22, 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 form 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 correcting to 0.9660.

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

Tenkan-Sen is above 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. The Ichimoku confirms the bullish mood of traders.

Bollinger Bands are directed to the side showing a correction.
MACD is in the positive area, the histogram began to decline.

Both indicators confirm falling.

Trading recommendations

The support level 0.9578 limits the pair ability to decline from the last Friday high point 0.9761.

The support at 0.9630 protects minimum 0.9580 reached the last Thursday. The market waits for the dollar growth traders control the situation as long as the support is at 0.9580.

With the resumption of the growth 0.9725 maximum 0.9761 will again be at the center of attention, the price may grow to 0.9809 in this case.