25, February 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair is in the process of a correction. The correction can proceed to the Kijun-sen. After its completion, the pair is likely to continue the upward movement.

The price goes up, a buy signal is confirmed and strong. The Chinkou Span is above the price chart and the price is above the Ichimoku cloud. The first goal is 0.9294. The price worked out this level we expect it consolidate on it.

Should the price overcome this level it should move to 0.9335. The upward movement will be actual as long as the price is above the Kijun-sen (0.9296) The price can change its direction if entrenched from this critical line. In this case, the price will go towards to the Ichimoku cloud.

The Chinkou Span is above the price chart, which confirms a buy signal.

Indicator Bollinger Bans expands, indicating a continuation of the northern movement.

MACD is turned up confirming a correction.

Trading recommendations

We have a strong signal to buy. We recommend opening long positions. The first target of the upward movement is the level 0.9294. Should the price consolidates on it, it will go to 0.9335.

Stop-loss is better to place below the Kijun level (0.9296).