21, February 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

Swiss franc is retreated. The pair USD/CHF is consolidating just above 0.8890. The loss may increase to 0.8830. The immediate resistance is at 0.9060 (16 February high). The return above 0.9100 will make 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

Dollar/franc could not get above the resistance in the area 0.8890 and after testing it fell to 0.8855. The dollar was bought here that allowed it to return to the upper boundary of the formed range, but the sellers are not asleep, continuing to sell the dollar on growth. The pair is still in a downtrend, the risks to test the 88th figure remain in the short term.