26, February 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

Frank continues to consolidate after the euro. From a technical point of view, the pair USD/CHF is trading below 0.8900. The immediate support is at 0.8850 (lows of last week). The loss may increase to 0.8820.

The pair is below the Cloud that cancels the northern movement. Tenkan-sen is crossing Kijun-sen downwards. The cloud is decreasing. The southern movement remains until Kijun-Sen is located above the price.

Bollinger bands still show a downward movement.
MACD histogram is in a negative zone. The histogram is descending.

Trading recommendations

The downtrend is slowing down. The pair may remain at the current level 0.8850 for a while still we expect a trend reversal upwards. The first target is 0.8890, the second is 0.8910.