23, May 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair speeds to 0.9761 last Friday maximum. The upward trend is gaining strength, if it does not subside we can expect a break above 0.9780 which will open the way to 0.9809. The correction is expected only if the pair goes below 0.9648. The first goal is the level 0.9600, the second is 0.9578

The upward movement is kept 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.

Bollinger Bands are broadening.
MACD is in the positive area, the histogram began to grow.

Both indicators confirm growing.

Trading recommendations

The northern movement continues. The goal is the resistance level 0.9809. Should the pair consolidate there the price will grow towards 0.9850.