30, December 2013

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The “Bucks” remains under pressure versus many major currencies. First of all it is due to speculations concerning the fixation of profit on the dollar before the holidays.
It was published the consumer sentiment index, which showed the growth by 82.5. Last month it was 75.1.

Looking at the technical side, the pair was able to stabilize at the level 0.8952 after the level 0.9002 was tested last week, but the figure was not overcame. The resistance is situated above, at the level 0.9023, then at the level 0.9103. The nearest support is at the level 0.8923 and lower at the level 0.8834.

The price is directed upwards. Chinkou Span is above the price. The price is above the cloud.

Northern movement is remained until Kijun-Sen is located below the price. Tenkan-sen is growing, Kijun sen is horizontal. The cloud is growing.

Bollinger bands show the beginning of the upward movement
MACD histogram crossed the zero line upwards and it is located in the positive zone and below its signal line.

Trading recommendations

The pair perhaps will continue to grow. The pair left a “cloud”; a brief consolidation and continuing of the growth are possible. The first goal is 0.8990, then 0.9040.