29, May 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

On the daily chart the Kijun-Sen and Tenkan-sen and formed the "golden cross". Both lines are moved in an upward direction. The upward movement will continue as long as the price is above the Kijun-Sen.

Bollinger Bands are directed upwards, the bands are apart, suggesting a growth.
MACD is in the negative zone, the histogram is back to falling.

Trading recommendations

Yesterday the pair left the cloud. That sets up its movement in the immediate future. If the pair is able to hold its positions above the cloud, the upward movement continues. In this case our first goal is 0.9780. After consolidating at this level the pair will go 0.9850.

We can also expect a weak movement towards 0.9700 as a correction.