24, April 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The signal to buy is strong and confirmed. The Chinkou Span is above the price and the price is being traded above the Ichimoku cloud.

Yesterday the pair successfully left the Ichimoku cloud area, heading up. All of Tuesday the pair grew, breaking through the level 0.9415 and tested 0.9451.

The upward movement will be in force until the price is above the Kijun-Sen (0.9350) if the price consolidates below this line it should weaken a buy signal and can be the beginning of a downtrend to 0.9335.

On the four-hour chart Tenkan-Sen is below the Kijun-Sen, the Tenkan-Sen and the Kijun-Sen are directed upwards. The Chinkou Span is below the price chart, the Cloud is neutral.

Bollinger Bands are expanding and are directed upwards.
MACD is in a positive area, the histogram is growing.

Indicators point to the northern movement. We recommend to open long positions.

Trading recommendations

We recommend to open long positions. Yesterday the pair tested the 0.9451 level, should the pair consolidate above this level the upward movement will continue to the level 0.9486.

It is possible a lateral movement or a short-term correction towards 0.9415 level today.
When you open positions consider the fundamental analysis and the time of its release as well.