29, November 2013

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

USD/CHF has resumed its impulsive growth yesterday and earlier today touched 0.9055. We expect downward offset, testing 0.9040 - 0.9000.

The nearest term of the resistance is noticeable around 0.9080. The clear break above this area could lead the price to neutral zone in the near future, testing 0.9135, but, in general, it would be necessary to prefer downward scenario at this phase.

Tenkan-sen is crossed with Kijun-sen having formed a "Dead Cross". Chinkou Span crosses the price chart from the bottom up, the cloud remains growing. Tenkan-sen and Kijun-sen are following the price downwards.

The pair will return to the upward movement if it gets back above the cloud. If the price returns above the Kijun-sen, the sell signal will be weakened and the further falling will be put under the question.

Bollinger Bands are directed downwards right now.
The MACD is at the negative zone.

Trading Recommendations

Yesterday there was a corrective bounce back to 0.9090. The main direction is still to the south. The pair is falling, the goal of the southern movement is 0.9040.