15, 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

The pair faces a further weakening with putting pressure on the Wendsday low at 0.9405. The sharp fall from 0.9753 high on Tuesday was aimed at the 0.9365 support area. The recovery above 0.9535 will provide a temporary respite, and open the way to 0.9580.