27, March 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

At the end of Monday the pair was trading above the Ichimoku cloud. The pair was growing the whole day. At the end of the day, the pair broke through the cloud and foothold over it.

Tenkan-Sen is below the Kijun-Sen, the two lines are directed up. The Cloud has a neutral form. The buy signal is confirmed and strong. If price consolidates above the Ichimoku cloud, the northern movement will continue to level 0.9525. But first, the pair should consolidate at the level 0.9486, which is tested, but not worked out.

Bollinger Bands are directed in different directions, the price channel is expanding.

Histogram MACD started to move up.

Trading recommendations

The pair resumes its northern movement.

The first goal of the northern movement is the level 0.9486, which the pair tested Monday. Entrenched at this level the pair will go to 0.9525.

The upward movement will continue until the pair is above the cloud.

When you open positions consider the fundamental analysis and the time of its release as well.