USD/CHF (a 4 hour chart)
Statistics published on Friday by the U.S. labor market, put some pressure on the franc. Strengthening of the euro against the dollar affected the USD/CHF, which has an inverse correlation with respect to the euro/dollar.
USD/CHF continues a downtrend, all indicators just confirm that. The pair is being corrected up, having bounced from 0.9174. The pair keeps falling, USD/CHF is being traded below the Cloud. The first target is the support 0.9174. The pair just tested the level the other day, if the downward movement continues USD/CHF goes to 0.9126. The current sell signal is strong, as Chinkou span entrenched above the price, and the price is below the Ichimoku cloud.
Kijun-Sen and Tenkan-Sen are crossed in a descending "dead cross" on a daily chart. Tenkan-sen is in the cloud, the Kijun-sen line is above Senkou Span B and is moving in a horizontal direction. The cloud is directed down. The downward movement will be continued as long as the price is below the Kijun-sen.
Bollinger Bands indicator follows the price down.
The MACD histogram is still located in the negative zone and below the signal line, the indicator continues to decline sending a signal to sell.
The pair is falling with the first target – 0.9174. Should the pair consolidate below this level the price will fall to 0.9126.