28, February 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair was in the side channel yesterday. The pair was between the two levels: 0.9294 and 0.9335 the whole day. Our hopes that the franc works out the level 0.9335 has not come true.

However, the pair moves to the north, the Chinkou Span is above the price, and the price is above the Ichimoku cloud. All this suggests that the upward movement will continue.

The main goal has not changed, it is the level 0.9406. Still the price will move to this level only having worked out 0.9335 level.

The upward movement will continue as long as the price is above the Kijun-Sen. If the price is fixed below this level the signal to buy will be canceled.

Chinkou Span is above the price chart which confirms a buy signal.

Bollinger indicator points to the lateral movement. MACD confirms the northern movement.

Trading recommendations

We have a strong buy signal. It is advised to go long. The first target of the upward movement is 0.9335 level, the second is 0.9406.

Stop-loss is better to set below the Kijun 0.9282. Take-profit set up goals by 5-10 points. After receiving a profit of 20-30 points portable profit target to breakeven.