14, November 2013

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The pair has left the descending channel at a daily chart. Tenkan-sen is crossed with Kijun-sen forming a "Golden Cross". Chinkou Span crosses the price chart from the bottom up, the cloud remains growing. Tenkan-sen and Kijun-sen are following the price upwards. Tenkan-sen is directed upwards, Kijun-sen is horizontal.

The pair will return to the downward movement if it gets back below the cloud. If the price returns below the Kijun-sen, the buy signal will be weakened and the further growing will be put under the question.

Bollinger Bands are narrowing and directed upwards.
The MACD is in a positive area right now, its histogram is growing.

Trading Recommendations

After a quick growth we expect the pair to slow down and to consolidate. The consolidation is possible with a pullback to 0.9180 and 0.9126. In the case of a return to growth, the pair will go to 0.9240. The second target is 0.9280.