12, March 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The signal to buy is preserved. At the moment the pair is working out a correction, a small pullback towards the Ichimoku cloud. The correction should not continue beyond the level 0.9451. Yesterday the pair stopped at the bottom of the indicator Bollinger.

The buy signal is preserved. The Tenkan-Sen (0.9494) is above the Kijun-Sen (0.9474). Kijun-Sen is going horizontal. The Ichimoku Cloud is upward.

The growing will be relevant as long as the price is above the Kijun-sen.

Bollinger bands is going upwards, its bands are extending confirming the steady growing.
MACD is turning down.

Trading recommendations

We recommend opening long positions. The buy signal is strong and confirmed. The first target is 0.9525. The price tested it last Friday. The pair may stay at this level for a while or we can expect a correction towards levels 0.9486 and 0.9451. The second target of the northern movement is the level 0.9560.