15, 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

We recommend to open long positions after the breakdown of the level 1.6070 to 1.6200 and with a protective order in the 1.6045 area.