24, January 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The franc rose against the US dollar amid weakening of demand of the latter. The Euro-franc also decreased, but traded in a very narrow range. The immediate resistance is above 0.8990. The next strong level is located at around 0.9040.

The price is directed downwards. Chinkou Span is below the price. The price is below the cloud.

The southern movement is remained until Kijun-Sen is located above the price. Tenkan-sen is crossing Kijun-sen downwards. The cloud is descending.

Bollinger bands still show a downward movement.
MACD histogram is located in a negative zone. The histogram is descending.

Trading recommendations

The pair is oversold, we believe that pair will not counties falling \today. Most likely, we will have a medium-term correction towards 0.9040.