20, February 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

Running through standard Ichimoku check-lists we can see that USD/CHF is going down.

The current buy signal is confirmed and weak as the Kijun-Sen 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 0.9218. If the price works out this target and consolidates over it its growing will be continued to the next level – 0.9270.

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

Bollinger Bands are narrowing. That might be a signal for a turn.
MACD is up confirming the current upward movement.

Trading recommendations

We recommend going long with the first target seen at the 0.9218. If the price consolidates above the first target we can continue to buy to the next level – 0.9270. Still you need to wait until the correction is over to open any position.