30, May 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General overview

The pair continues going up. We have not confirmed buy signal. The pair is targeted to 0.9780.
Yesterday the pair managed to strengthen against the dollar. The pair broke the Cloud through having come out below of it.

If the price consolidates below the Kijun-sen, the buy signal will weaken. Tenkan-sen and Kijun-Sen are crossing each other.

Bollinger Bands are directed upwards, signaling an upward price movement, which allows now to consider long positions before the turn of the indicator down, which signals a possible beginning of the corrective movement.
MACD is in the negative zone, the histogram is back to falling.

Trading recommendations

Yesterday the pair broke the cloud. If the pair is able to hold its positions below the cloud, the downward movement continues. Still we do not believe in this scenario. We consider yesterday’s falling as a correction.

Our main goal remains, it is 0.9850. The correction can continue to 0.9540.