USD/CHF has entered the cloud and is trying the break down its lower border

April 2, 2015

USD/CHF, H4
Let’s look at the four-hour chart. Tenkan-sen line is above Kijun-sen, the red line is directed downwards, while the blue one remains horizontal. Chinkou Span line has crossed the price chart from above; current Kumo-cloud has reversed from descending to ascending. The pair has entered the cloud and is trying the break down its lower border. The closest resistance level is Kijun-sen line (0.9656). the next obstacle for the price on its way down will be one of the previous minimums of Chinkou Span line at 0.9502.


USD/CHF, D1
On the daily chart Tenkan-sen line has crossed Kijun-sen from above, indicating the beginning of trend reversal. Chinkou Span line is above the price chart; current Kumo-cloud is ascending. The pair has been corrected under Kijun-sen (0.9789) and Tenkan-sen (0.9650) lines. Upper border of the cloud will be a support level at 0.9385.

Key levels
Support levels: 0.9502, 0.9385.
Resistance levels: 0.9650, 0.9656, 0.9808.

Trading tips
On the four-hour chart the pair is trying to consolidate below the cloud, while on the daily one we’ve got a strong signal to sell. Targets for the sell positions are 0.9502 and 0.9385.

Analytics by Liteforex Investments Limited

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