16, June 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The sell signal is strong and confirmed. Chinkou Span is located below the price, the price itself is below the Ichimoku cloud. So now the goal for the downward movement is the level 0.9215, which is reached by the price, but has not been worked out. If the pair manages to consolidate below this level it will open the road to a new target for the downward movement - 0.9160. The downward movement will be in force until the price is below the Kijun-Sen.

Bollinger Bands confirms the continuation of the downward movement its bands widen and are directed downward. It is recommended to consider short positions.

MACD is in a negative area, signaling a downward direction.

Trading recommendations

The pair USD/CHF is in demand today. It is noted that the stabilization above 0.9220 is a good sign.

At the moment, attention is paid to offers near the level 0.9265, if the pair breaks above it will go to 0.9280 and 0.9300 levels. At the same time, if the pair is able to overcome the last resistance, it can be assumed that there will be a recovery to 0.9360 and even 0.9420.

We expect that the upward movement will be continued and the pair will stay in the direction 0.9348 and 0.9419 (June 10 high level).