22, January 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The price is directed upwards. Chinkou Span is above the price. The price is above the cloud.

The northern movement is remained until Kijun-Sen is located below the price. Tenkan-sen is crossing Kijun sen upwards. The cloud is growing.

Bollinger bands still show an upward movement.
MACD histogram is located in the positive zone. The histogram is descending.

Trading recommendations

The Monday supporting maximum 0.9133 is expected to be under pressure again. As a result the pair may grow further to 0.9160.

There are signs of upward momentum weakening, the key level 0.9160 approaching and Monday's intraday "bear trap" 0.9133. The pair needs to break the support at 0.9086-95 to change the direction. Should the pair break the level that would open the way to 0.9050.