18, October 2013

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The price is below the cloud and is falling. We can see that Tenkan-sen and Kijun-sen are directed downwards. Chinkou Span is above the price, the cloud is directed down. The sell signal is strong and confirmed. 

The pair will return to the upward movement if it gets back above the cloud. If the price returns above Kijun-sen, the sell signal will be weakened and the further falling will be put under the question.

Bollinger Bands indicates further growth. The MACD histogram is growing as well.

Trading Recommendations

We recommend to open short positions. The first target 0.9040 has been overcome, the pair needs only to consolidate on it. The next target is 0.8990.