23, January 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

According to the last month reports the negative net position of major participants (Reportable Positions column Total) on the CME significantly decreased from 13.0% to -5.6%. The General major participants sentiment remains negative.

The price in the four-hour chart after the wave of growth neared to the resistance line, which was carried out through the maximums of 2013 (September’s 0,9455 and November’s 0,9249, see The daily chart).

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 expect the pair to grow to the resistance 0.9200–0.9220. The nearest support is located at 0.9040, the next is at 0.9000. The loss of the last support will weaken the bullish momentum.