12, July 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The current buy signal is confirmed and weak, as Chinkou span is below the price and the pair has almost broken the Cloud through.

The pair corrected to 0.9410 and is consolidating in a range 0.9500 - 0.9410. The upward movement will be as long as the price is above the Kijun-Sen, if the price is fixed below the Kijun-sen, the buy signal will be weakened and the further upward movement is likely to be canceled.

Chinkou Span is below the price that confirms the current sell signal and indicates a bearish sentiment of the pair. Kijun-Sen and Tenkan-Sen are directed downwards.

Bollinger Bands indicator formed a fixed upward channel.
MACD is growing in a negative area.

Trading Recommendations

Fall from 0.9753 high on Tuesday should be limited by 0.9365. The level 0.9400 is faced with greater attention after the weakening of the dollar during the Asian session on Thursday, but a fresh wave of downward pressure is needed to make a break below 0.9365 during the current session. The recovery above 0.9508 will provide a temporary respite, and open the way to 0.9580.