16, May 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The upward movement continued yesterday. Frank was able to reach the level 0.9750, while retaining the potential for further growth.

The level 0.9674 is a local support. The level 0.9626 is the key support.

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 target of the northern movement the level 0.9700 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

The market is growing. Yesterday the pair tested the 0.9700 level. We look forward to the consolidation and growth to the level 0.9780.

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.