empty
06.04.2012 03:10 PM
USD/CHF Technical Analysis and Trading recommendations for April 6, 2012

4H

This image is no longer relevant

General picture:
On April 6 the USD/CHF pair continued the ascending movement and has overcome another resistance level. Presently MACD indicates a correction. The current signal for Buy-deals is confirmed and strong as Chinkou Span is fixed above the price chart and the price has overcome the Ichimoku Cloud. Therefore, the targets for uprising movement are seen at the third resistance level 0.9231. in case this levels has been overcome, the new target for bullish trading – the resistance level of the bigger timeframe 0.9449 – will be available. The ascending movement remains the same as long as the price is higher than Kijun-Sen (0.9110). While bullish trading above this line it is recommended to place Stop Loss. If the price goes below this line, the signal for Buy-deals will weaken and the further development of the ascending movement will questioned. Chinkou Span is located above the price chart confirming the current signal for Buy-deals and points at bullish mood on the USD/CHF market. Bollinger Bands shows the current ascending movement, lines are expanding and directed upwards. Therefore, it is recommended to consider the long positions. MACD is reversed to downside providing a signal that the correction has begun. Thus, the indicator does not allow to open new buying orders though in case MACD reverses to upwards, long positions will be relevant again.

 

Trading recommendations:
On the USD/CHF market it is recommended to take into account long positions with target seen at the level 0.9231. If the price passes this level through, the target for purchasers will be seen at the 0.9449 level. Stop Loss is to be placed below the point 0.9110. if this line goes higher Stop Loss can be placed after it. New long positions are recommended to be opened after the MAC reversal to upwards. With 50-60 pips of profit Stop Loss can be placed to the zero area. Take profits are to be placed a bit lower than the target levels (10-15 pips approximately).

Apart from the technical picture it is necessary to consider the fundamental data and the time of its release.

Explanations to the picture:
Ichimoku Indicator:
Tenkan-Sen – red line
Kijun-Sen – blue line
Senkou Span A – light brown dotted line
Senkou Span B – light blue dotted line
Chinkou Span – green line
Senkou Span B – violet dotted line
Bollinger Bands:
3 yellow lines
MACD Indicator:
Red line and the histogram with white bars in the indicators window.

If my articles are interesting and useful to you, you can vote for me in Analyst of the Year contest


Paolo Greco,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

XAU/USD. Analysis, Forecast, and Current Market Situation

Gold is maintaining a bearish intraday tone today.Oscillators on the daily chart are just beginning to show negative momentum, indicating the potential for further declines in the metal's price

Irina Yanina 12:50 2025-07-07 UTC+2

Forecast for EUR/USD on July 7, 2025

On Friday, the EUR/USD pair traded very weakly, with trader activity extremely low due to the U.S. Independence Day. As a result, no trading signals, important breakouts, or other chart

Samir Klishi 11:48 2025-07-07 UTC+2

GBP/USD. July 7th. Bulls Defend the 1.3611 Level

On the hourly chart, the GBP/USD pair traded sideways on Friday. Today, a new rebound from the support zone of 1.3611–1.3633 could give traders hope for a reversal in favor

Samir Klishi 11:15 2025-07-07 UTC+2

AUD weakens against USD but there is potential for a temporary strengthening retracement, Monday, July 7, 2025.

AUD/USD – Monday, Monday, July 7, 2025. With the potential for escalation of the global tariff trade war, demand for the USD currency as a safe haven has increased, making

Arief Makmur 08:52 2025-07-07 UTC+2

USD strengthens again against Yen despite potential correction in the near future, Monday, July 7, 2025.

USD/JPY – Monday, July 7, 2025. With the release of positive US economic data and the BOJ's policy stance remaining Dovish, today USD/JPY has the potential to strengthen. Key Levels

Arief Makmur 08:52 2025-07-07 UTC+2

EUR/USD Forecast for July 7, 2025

On the weekly chart, the price has precisely reached the intersection point of the Fibonacci ray and the upper boundary of the price channel. This occurred on the first

Laurie Bailey 06:24 2025-07-07 UTC+2

GBP/USD Forecast for July 7, 2025

On Thursday and Friday, the pound traded within a narrow range between the support level of 1.3635 and the resistance of the daily MACD line. This morning, the price

Laurie Bailey 06:21 2025-07-07 UTC+2

USD/JPY Forecast for July 7, 2025

USD/JPYFollowing a 126-point surge driven by strong U.S. labor market data, which pushed the quote above the balance indicator line, the pair closed below this line on Friday. Today began

Laurie Bailey 06:15 2025-07-07 UTC+2

EUR/USD. July 4th. Bears continue to retreat from the market

On Thursday, the EUR/USD pair rebounded once again from the 1.1802 level and declined almost to the 127.2% Fibonacci retracement level at 1.1712. As of Friday morning, the pair

Samir Klishi 10:53 2025-07-04 UTC+2

Forex forecast 04/07/2025: EUR/USD, GBP/USD, USD/JPY, SP500 and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:51 2025-07-04 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.