12, September 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

Kijun-sen is above Tenkan-Sen. Tenkan-sen is directed downward, the Kijun-Sen is horizontal. Chinkou Span is above the price chart, the cloud is neutral. The Upward movement is canceled for now, the pair returned into the cloud.

The first target is our level of support - 0.9300. When the price consolidates at the first goal the next target 0.9270 will become available.

The pair will return to the downward movement after the return under the Kijun-sen and under the cloud that is happening now. If the price returns above the Kijun-sen, in this case, the sell signal will be weakened, and the further growth will be put under question.

Bollinger Bands indicator follows the price down. The bands are narrowing.
The MACD histogram is in a negative territory and continues slowly to fall sending a sell signal.

Trading Recommendations

The pair is falling having entered the Ichimoku cloud. If the pair returns under a cloud, it will signal the return of bears in the market. The first goal of the falling is 0.93. Having fixed (broken) that support the pair will fall to 0.9270.