14, February 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

Swiss franc corrected versus the dollar. Fed's Bullard in his speech said that any change in the rate reduction program QE3 would be a strong signal, FOMC plans to minimize debt purchase program; weak data are insufficient to review the plan folding QE; problems in emerging markets has no effect on the United States at the moment.

The pair is below the Cloud that cancels the northern movement. Tenkan-sen is crossing Kijun-sen downwards. The cloud is decreasing. The southern movement remains until Kijun-Sen is located above the price.

Bollinger bands still show a downward movement; its bands are broadening confirming the sell signal.
MACD histogram is in a negative zone. The histogram is descending.

Trading recommendations

It seems that the bears are aimed at the support 0.8900 and only growth above 0.9037 could disrupt their plans.