30, August 2013

USD/CHF (a 4 hour chart)

USD/CHF (a 4 hour chart)

General Overview

Tenkan -Sen and Kijun -Sen are crossed in a descending "dead cross " on the daily chart. We have growing at four hour time-frame. On Thursday, the pair broke the Ichimoku cloud up. The growth was triggered by the unemployment rate in the Republic of Germany. The pair is above the cloud, Tenkan -Sen and Kijun -Sen are directed upwards.

The first target for the growth is 0.9344. Should the pair consolidated above the first target it can go to the 2nd resistance level at 0.9410.

The pair will return to the downward movement after the return under the Kijun -sen. If the price consolidates above the Kijun -sen the sell signal will be weakened.

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 growing. The first target is 0.9344. Should the pair consolidate at this level it will go to 0.9410.