The pair has been corrected above Kijun-sen line (0.9631) and lower border of the cloud

December 17, 2014

USD/CHF, H4

Let’s look at the four-hour chart. Tenkan-sen line is below Kijun-sen, red line is directed

downwards while the blue one remains horizontal. Chinkou Span line is below the price chart;

current Kumo-cloud is descending. The pair has been corrected above Kijun-sen line (0.9631)

and lower border of the cloud becomes the next resistance level at 0.9700.

USD/CHF, D1

On the daily chart Tenkan-sen line is above Kijun-sen, both lines are horizontal. Chinkou Span

line follows the price chart; current Kumo-cloud is ascending. The pair has bounced off the

upper border of the cloud (0.9596) and is still consolidating above it. The closest resistance

level is Kijun-sen line at 0.9674.

Key levels

Support levels: 0.9631, 0.9596.

Resistance levels: 0.9674, 0.9700.

Trading tips

On the four-hour chart the breakthrough of Kijun-sen line may be the first sign of trend

reversal. Short-term long positions can be opened at current price with targets around 0.9700.

Publication source
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