26, September 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

Kijun-sen is above Tenkan-Sen. Tenkan-sen is directed downward, the Kijun-Sen is directed down. Chinkou Span is above the price chart, the cloud is still neutral. The upward movement is canceled for the moment, the pair returned into the cloud and broke it at the end of the week.

The pair will return to the downward movement after the return under the Kijun-sen and the Cloud what is happening now. If the price returns above the Kijun-sen, the sell signal will be weakened and the further growth will be put under question.

Bollinger Bands indicator follows the price down. The bands are narrowing.
The MACD histogram is in a negative area.

Trading Recommendations

After testing a low at 0.9090 the pair is in a stable flat, trading in the range 0.9126-0.9090.

We advise to go long, setting take-profits at the upper levels: 0.9156, and 0.9177.

If the pair goes down its target will be 0.9040.