16, September 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

Kijun-sen is above Tenkan-Sen. Tenkan-sen is directed downward, the Kijun-Sen is directed down. Chinkou Span is above the price chart, the cloud is still neutral. The upward movement is canceled for the moment, the pair returned into the cloud and broke it at the end of the week.

The first target is our level of support 0.9300 is broken. The pair is moving to 0.9270.

The pair will return to the downward movement after the return under the Kijun-sen and the Cloud what is happening now. If the price returns above the Kijun-sen, the sell signal will be weakened and the further growth will be put under question.

Bollinger Bands indicator follows the price down. The bands are narrowing.
The MACD histogram is in a negative area.

Trading Recommendations

The pair is falling having broken the Ichimoku cloud. The consolidation below the Cloud will signal the return of bears in the market. The first goal of the pair is 0.9270. Having fixed (broken) that support the pair will fall to 0.9240.