USD/CHF (a 4- hour chart)
Swiss Franc almost did not react to the Swiss National Bank (SNB) meeting; as expected SNB decided to leave the policy unchanged. SNB governor Jordan said that the franc was still high - downside risks prevail at the economy, and its growth may slow in the fourth quarter.
Tenkan-sen is crossed with Kijun-sen forming a "Dead Cross". Chinkou Span is below the price. Tenkan-sen and Kijun-sen are following the price downwards. The Cloud is descending.
The pair will return to the upward movement if it gets back above the cloud. If the price returns above the Kijun-sen, the sell signal will be weakened and the further falling will be put under the question.
Indicator Bollinger shows the downward movement, its bands are narrowing forming a side chanal.
MACD is in a negative zone but the histogram is making attempts now to cross the bottom up its signal line and thereby form a buy signal.
The pair has broken up its consolidation range and continues to develop the growth structure. We believe it is going to form a structure of a growth correction. Today we expect it to work out 0.8920. Next – we expect falling to the level 0.8880. Then it may grow to the level 0.8927.