17, July 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The current buy signal is confirmed and weak, as Chinkou span is below the price and the pair has almost broken the Cloud through.

The pair corrected to 0.9410 and is consolidating in a range 0.9500 - 0.9410. The upward movement will be as long as the price is above the Kijun-Sen, if the price is fixed below the Kijun-sen, the buy signal will be weakened and the further upward movement is likely to be canceled.

Chinkou Span is below the price that confirms the current sell signal and indicates a bearish sentiment of the pair. Kijun-Sen and Tenkan-Sen are directed downwards.

Bollinger Bands indicator formed a fixed downward channel.
MACD is growing in a negative area.

Trading Recommendations

It is obvious that the dollar/franc will be traded in the lower range this week.

There is support at the level 0.9410, a minimum of Thursday. Should the pair break this area it will go to the 0.9344 level, and then o 0.9270, which is a minimum of 24 June.

There is resistance at Thursday's 0.9596. This level break will focus the pair to 0.9790.