27, June 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

The current buy signal is confirmed and strong, as Chinkou span entrenched above the price.

The goal for the upward movement is 0.9410. If the price passes the first target it will go to the resistance level 0.9500.

The upward movement will be as long as the price is above the Kijun-Sen, if the price is fixed below the Kijun-sen, the buy signal will be weakened and the further upward movement is likely to be canceled.

Chinkou Span is above the price that confirms the current buy signal and indicates a bullish sentiment of the pair.

Bollinger Bands indicator formed a fixed upward channel.
MACD is growing in a positive area.

Trading Recommendations

The pair did not start falling, as we expected, on the contrary, it continued its growth in the area of 0.9400. Everything confirms the bullish sentiment, if the pair consolidates above 0.9400 the next target will be 0.9500. But we believe that the pair can take a pause in the upward movement at 0.9400.