15, May 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

USD/CHF is working out a "golden cross". The buy signal is strong and confirmed. Chinkou Span is above the price and the price is being traded above the Ichimoku cloud. The first target of the northern movement the resistance level 0.9600 was broken yesterday. Should the price consolidate on it, it will grow towards 0.9780. The upward movement is maintained as long as the price is above the Kijun-Sen.

Tenkan-Sen is below Kijun-Sen, Tenkan-Sen is directed upwards, the Kijun-sen is directed sideways. Chinkou Span is below the price chart, the Ichimoku cloud is growing now. The indicator Ichimoku confirms the bullish mood of traders.

Bollinger Bands is directed upward, indicating an upward movement.
MACD is in the positive area, its histogram continues growing.

Trading recommendations

After the pair strengthened last week, investors who had counted on dollar growing in the short term, got control of the situation

The market once again focused on 0.9629 high, after the recovery above 0.9593 level. The pair has everything to grow to 0.9750.