20, May 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The buy signal is strong and confirmed. Tenkan-Sen and Kijun-sen cross each other, forming a "golden cross". Both lines are in a horizontal direction, moving parallel to each other.

The price above the cloud indicating a general upward trend. On the four-hour chart the growth is slowing down; the pair is consolidating above the resistance level 0.9700.

The upward movement is maintained as long as the price is above the Kijun-Sen.

Tenkan-Sen is below Kijun-Sen, Tenkan-Sen is directed upwards, the Kijun-sen is directed sideways. Chinkou Span is below the price chart, the Ichimoku cloud is growing now. The Ichimoku confirms the bullish mood of traders.

Bollinger Bands is directed upward, indicating an upward movement.
MACD is in the positive area, its histogram continues growing.

Trading recommendations

We forecast return to the maximum 0.9760. If the pair manages to break through this level, the price will go to 0.9780.

The long-term goal of bulls is July 2012 maximum 0.9970.