19, April 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

USDCHF is consolidating after a recent growth. The first goal of the northern movement is the level 0.9335. The pair is being traded at the upper boundary of the Cloud.

The Tenkan-Sen is below the Kijun-sen, both lines are going up. The Chinkou Span is below the price chart, the cloud is going down.

Bollinger Bands are turning up following the price.
MACD histogram is trading in a negative zone and started to grow.

Trading recommendations

We have a weak sell signal which will be as long as the pair is trading under a Cloud. If the pair breaks through the Cloud up that will cancel the sell signal.

In the case of upward movement the pair will grow to the level 0.9335 and 0.9415.

There might be a correction to the level 0.9290, after which the price is to resume its growth.

When you open positions consider the fundamental analysis and the time of its release as well.