20, February 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The Swiss franc rose amid total dollar sales after a new portion of the U.S. weak statistics.

The pair USD/CHF is consolidating just above 0.8870. The loss may increase to 0.8830. The immediate resistance is at 0.9060 (highs 46 February). The return above 0.9100 will make the growth target 0.9140/50 and 0.9180 (maximum of 20 November).

The pair is below the Cloud that cancels the northern movement. Tenkan-sen is crossing Kijun-sen downwards. The cloud is decreasing. The southern movement remains until Kijun-Sen is located above the price.

Bollinger bands still show a downward movement; its bands are broadening confirming the sell signal.
MACD histogram is in a negative zone. The histogram is descending.

Trading recommendations

The pair dollar/franc could not develop a growth above 0.8928. It was sold here, and it fell to 0.8868. The overall picture is negative for growth and ability to consolidate above 0.9100 will be proof of that.