24, May 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair is correcting right now. The pair speeds to the last Friday maximum - 0.9761. After reaching that target the price will head ahead towards 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 go down.

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.

The pair is trading at the upper boundary of the Ischimoku cloud. Correcting the pair USD/CHF can go into the cloud. Entering the cloud will weaken a buy signal. The price will go to 0.9600 if enters the cloud.