25, March 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair is being traded below the Ichimoku cloud. The pair could leave the cloud area at last.

Tenkan-Sen is below the Kijun-Sen, both lines are directed down. The Cloud started to fall. We have a confirmed sell signal. If the price is fixed below the Ichimoku cloud, it will continue to fall to the level 0.9335, after consolidating at it the pair will go to 0.9292.

Bollinger Bands are directed in different directions, the price channel is expanding. The indicator points to the downward movement.

MACD is going down as well.

Trading recommendations

The pair is falling. We recommend opening short positions, the first goal of the southern movement is the level 0.9335, the second target – 0.9292.

Should the pair return to the upward direction, the price will move up to the cloud, to the level 0.9413. After consolidation at it the price will continue moving to the level 0.9451.

Take-profit should be set up by 5-10 points below the goals. After receiving a profit of 20-30 points we place stop loss to a breakeven.