26, December 2013

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The Swiss franc strengthened amid the growth of the consumer activity indicator in Switzerland from UBS, which grew in November to the level 1.43 p., in comparison with 1.26 in October. The growth was due to higher assessment of business conditions in the retail sector because of the Christmas trading period.

The price direction is northern. Chinkou Span is above the price. The price is above the cloud.

Northern movement is remained until Kijun-Sen is located below the price. Tenkan-sen is growing, Kijun sen is horizontal. The cloud is growing.

Bollinger bands show the beginning of the upward movement
MACD histogram crossed the zero line upwards and it is located in the positive zone and below its signal line.

Trading recommendations

It is recommended to go long with the first goal – 0.9029. If the price consolidates higher the first target the second level to reach is 0.9099. The stop -loss is below 0.8915.