25, November 2013

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

Surplus trade balance in Switzerland in October remained at the level of September, according to the Federal Customs Administration. Over the ten months of the current year, the balance also has a positive value.

USD/CHF continued its impulsive decline yesterday, touching 0.9161. The downward phase may stop after the formation of the double top figure.

Tenkan-sen is crossed with Kijun-sen having formed a "Dead Cross". Chinkou Span crosses the price chart from the bottom up, the cloud remains growing. Tenkan-sen and Kijun-sen are following the price downwards.

The pair will return to the upward movement if it gets back above the cloud. If the price returns above the Kijun-sen, the sell signal will be weakened and the further falling will be put under the question.

Bollinger Bands are directed downwards right now.
The MACD is at the negative zone.

Trading Recommendations

We expect to consolidate around the level 0.9090 in a short-term. Then we expect a further decline to 0.9040.