18, February 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

Running through standard Ichimoku check-lists we can see that USD/CHF continued to grow but finished the week in a flat.

The current buy signal is confirmed and strong as the Chinkou Span is above the price chart and the price is above the Ichimoku cloud.

For the current moment the goal of an upward movement is the resistance level at 0.9270. If the price works out this target and consolidates over it its growing will be continued to the next goal which is the level at 0.9335. The upward movement will be strong as long as the price is above the Kidjun-sen (1.5581), if the price consolidates below this line the sell signal will be weakened and questioned as well.

The Chinkou Span is located above the price chart confirming the current buy signal.

Bollinger Bands are going up as well. The flat is over and we can say that the pair has returned to its normal upward movement.

MACD is directed upwards confirming the current upward movement.

Trading recommendations

We recommend going long with the first target seen at the 0.9270. If the price consolidates above the first target we can continue to buy to the next level – 0.9335.

Stop loss we place below 0.9171 and if this line moves up we can move the stop-loss after it.

Apart from the technical picture it is necessary to consider the fundamental data and the time of its release.