16, April 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair keeps going down and this week.

The first goal of the southern movement is the level 0.9290. The pair has already reached it, it remains only to work this level out to continue going to 0.9210.

The pair consolidates below the Ichimoku cloud. Last week, the pair traded downwards in a narrow corridor.

The Tenkan-Sen is below the Kijun-sen, both lines are going down. The Chinkou Span is below the price chart, the cloud is falling. The downward movement continues.

Bollinger Bands indicator has formed a downward trend.
MACD histogram is trading in a negative zone and started to grow.

Trading recommendations

After a sharp rise the pair started a consolidation. It is most likely that the pair will be traded in a narrow corridor this week.

We have a strong sell signal.

In the case of the upward movement, the pair will grow to the level 0.9335 and 0.9415.

When you open positions consider the fundamental analysis and the time of its release as well.