16, October 2013

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

Daily statistical data for the pair USD / CHF proved to be completely neutral, as the macroeconomic data does not bring any surprises.

Switzerland is not very active in the macroeconomic calendar, providing a limited amount of statistical data. Thus, the indicators released last week, also reached a moderately positive, and the consumer prices in the country showed a slight decline in September, when the index fell by 0.1% y / y. The data was in line with expectations of economists.

The price is above the cloud and is growing. We can see that Tenkan-sen and Kijun-sen are directed upwards. Chinkou Span is above the price, the cloud is growing.

The pair will return to the downward movement if it gets back under the cloud. If the price returns below the Kijun-sen, the buy signal will be weakened and the further growth will be put under the question.

Bollinger Bands indicates further growth. The MACD histogram is growing as well.
The MACD histogram is in a negative area.

Trading Recommendations

We can go long if the price break the level 0.9075. The first target is 0.9180 which was tested yesterday. Short positions will be relevant only if the pair consolidates below 0.8970.