29, August 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

USD/CHF continues a downtrend, all indicators just confirm that. After overcoming a minor correction the pair broke through the Tenkan-sen, but could not hold on it and went down. The price then went to the support level 0.9150 and slowed movement, forming a small candle with short shadows.

Kijun-Sen and Tenkan-Sen are crossed in a downward "dead cross". The line Tenkan-sen is moving horizontally, and the Kijun-sen is directed down. The market is "bearish". The fact that the price is below the Cloud indicates a general downward trend in the market.

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.

Trading Recommendations

The pair is falling with the first target – 0.9174. Should the pair consolidate below this level the price will fall to 0.9126.