12, April 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair shows a negative trend in the short term. USDCHF keeps going down.

The first goal of the southern movement is the level 0.9290. The pair has already reached it, it remains only to work this level out to continue going to 0.9210.

The pair consolidates below the Ichimoku cloud. Yesterday, the pair traded downwards in a narrow corridor.

The Tenkan-Sen is below the Kijun-sen, both lines are going down. The Chinkou Span is below the price chart, the cloud is falling. The downward movement continues.

Bollinger Bands are broadening confirming a southern movement.

MACD histogram is trading in a negative zone and started to grow.

Trading recommendations

We should wait until the downward movement is over. We expect consolidation and a return to a growth. If the pair continues to fall it will go to the level 0.9290.

In the case of the upward movement, the pair will grow to the level 0.9415 and 0.9450.

When you open positions consider the fundamental analysis and the time of its release as well.