21, March 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

Wednesday the pair left the Ichimoku cloud. The pair began another correction.
Tenkan-Sen is below the Kijun-Sen, both lines are horizontal. The Cloud is horizontal as well. We have a confirmed sell signal. If the price is fixed at the Ichimoku cloud, it will continue to fall to the level 0.9413, after consolidating at it the pair will go to 0.9335.

Bollinger Bands are directed aside and have a fixed price channel.

MACD is in the negative area and is directed to a positive one.

Trading recommendations

We recommend to open short positions, the first goal of the southern movement is the level 0.9413, the second target – 0.9335.

Should the pair return to the upward direction, the price will move up to the cloud, to the level 0.9486. After consolidation at it the price will continue moving to the level 0.9525.

In case of the correction our target is the level 0.9335.

Take-profit should be set up by 5-10 points below the goals. After receiving a profit of 20-30 points we place stop loss to a breakeven.