12, June 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The sell signal is strong and confirmed. Chinkou Span is located below the price, the price itself is below the Ichimoku cloud. So now the goal for the downward movement is the level 0.9270, which is the price reached, but not worked out. If the pair manages to consolidate below this level it will open the road to a new target for the downward movement - 0.9215. The downward movement will be in force until the price is below the Kijun-Sen.

Bollinger Bands confirms the continuation of the downward movement its bands widen and are directed downward. It is recommended to consider short positions.

MACD is in a negative area, signaling a downward direction.

Trading recommendations

The pair is attempting to continue falling. If the pair goes below 0.9300 it will show the obvious attempts to test the recent low levels. Significant levels are 0.9246, 0.9215, 0.9020. MACD is in the negative zone and is going down, indicating the desire of the pair to move down. Should the pair break 0.9300 we recommend you to sell with the target at 0.9230.