USD/CHF is slowly rising, being corrected along the way

February 17, 2015

USD/CHF, H4
Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, they are both horizontal. Chinkou Span line is approaching the price chart from above; current Kumo-cloud is ascending. The pair is slowly rising, being corrected along the way. Tenkan-sen line is the closest resistance level (0.9234). Support level will be Kijun-sen line (0.9296).  

USD/CHF, D1
On the daily chart Tenkan-sen line is above Kijun-sen, both lines are horizontal. Chinkou Span line is approaching the price chart from below; current Kumo-cloud is ascending. The pair is trading within a sideways channel. Tenkan-sen line is the closest support level (0.9269). The next obstacle for the price on its way up will be the lower border of the cloud (0.9829).

Key levels
Support levels: 00.9269, 0.9296.
Resistance levels: 0.9234, 0.9829.

Trading tips
On the four-hour chart the pair is slowly moving upwards, but on the daily one we can see a correction of the downward trend. Even if the pair continues to trade within a sideways channel, price chart will break through the cloud at the end of the week, giving a signal to buy. Meanwhile, short-term buy positions can be opened at current price with targets around 0.9322.

Publication source
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