31, January 2014

USD/CHF (a 4- hour chart)

USD/CHF (a 4- hour chart)

General Overview

The dollar recovered after the consumer confidence index from the Conference Board had grown to 80.7 pp. in January (more than it was forecasted) against the revised numbers of the previous month – 77.5 pp.

The pair is consolidating in the area 0.8990 that is above yesterday's lows at 0.8900 (the nearest support). The support is at 0.8730 (minimums of December 17) and at 0.8700 (minimums of December 27). The resistance is at 0.9000.

The southern movement is remained until Kijun-Sen is located above the price. Tenkan-sen is crossing Kijun-sen downwards. The cloud is descending. The price is below the Cloud.

Bollinger bands still show a downward movement; its bands are narrowing
MACD histogram is located in a negative zone. The histogram is growing.

Trading recommendations

The return above 0.9100 will make the growth target 0.9140/50 and 0.9180 (maximums of November 20).