29, March 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair is working out “a golden cross”. Frank was in a correction yesterday. The buy signal is confirmed and strong.

Tenkan-Sen is below the Kijun-Sen, the two lines are directed up. The Cloud is growing. If the price consolidates above the Ichimoku cloud, the northern movement will continue to level 0.9560. But first, the pair should consolidate at the level 0.9525.

The upward movement is strong as long as the pair is above the Kijun-sen, if the price falls below this line, it can return to the downward movement. In this case, the pair will go to the first support level 0.9335 and can form a new "dead cross".

Bollinger Bands are directed aside, the price channel is stable.

MACD histogram moves in the positive zone, the signal line left the histogram body indicating a correction.

Trading recommendations

The pair resumes its northern movement.

The first goal of the northern movement is the level 0.9525, which the pair tested yesterday. After consolidation at it the pair will go to 0.9560.

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.