USD.CHF, H4
At the four-hour chart, the price broke through the lower bound of the cloud and rolled back to the horizontal area of Senkou Span A. The line Tenkan-Sen is above Kijun-Sen, and both lines have nearly merged. The line Chinkou Span is above the price line; current cloud is descending. Resistance levels are Kijun-Sen (0.9740) and Senkou Span A (0.9735).
USD/CHF, D1
Let’s look at the daily chart. The Tenkan-Sen has crossed Kijun-Sen from below to above under the cloud, forming the pattern “Dead cross”. We got the second signal from the line Chinkou Span: intersection of the price chart from top to bottom. Current cloud is still ascending; however it is rapidly getting thinner. Support level is the upper bound of the cloud- the line Senkou Span A (0.9628).
Key levels
Support level: 0.9628.
Resistance levels: 0.9735-0.9740.
Trading tips
At the chart H4, intersection of the lines Tenkan-Sen as well as Kijun-Sen and the signal from Chinkou Span is confirmation of downtrend. It is the best moment to open sell position. Daily chart also indicates downward movement.
At the four-hour chart, the price broke through the lower bound of the cloud and rolled back to the horizontal area of Senkou Span A. The line Tenkan-Sen is above Kijun-Sen, and both lines have nearly merged. The line Chinkou Span is above the price line; current cloud is descending. Resistance levels are Kijun-Sen (0.9740) and Senkou Span A (0.9735).
USD/CHF, D1
Let’s look at the daily chart. The Tenkan-Sen has crossed Kijun-Sen from below to above under the cloud, forming the pattern “Dead cross”. We got the second signal from the line Chinkou Span: intersection of the price chart from top to bottom. Current cloud is still ascending; however it is rapidly getting thinner. Support level is the upper bound of the cloud- the line Senkou Span A (0.9628).
Key levels
Support level: 0.9628.
Resistance levels: 0.9735-0.9740.
Trading tips
At the chart H4, intersection of the lines Tenkan-Sen as well as Kijun-Sen and the signal from Chinkou Span is confirmation of downtrend. It is the best moment to open sell position. Daily chart also indicates downward movement.
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