The USD/CHF continues downward movement has no correction, and even 1-2 less strong bull bars are also absent.
FOREX Signal For USD/CHF
Current sell signal-strong and confirmed as Chinkou Span entrenched below the price, and the price is below the Ichimoku cloud. So now the goal for the downward movement is the first support level 0.8873. If the price is below the first target has to be available new target for downward movement- the second support level 0.8821.
Downward movement has prospects as long as price is below the Kijun-sen (0.8970) if the price consolidates above the critical line, then a sell signal will be weakened, and the continuation of the downward movement called into question, but may continue upward movement with the aim of first resistance level 0.9007. Chinkou Span is below the price chart, which confirms the current sell signal and indicates a bearish market sentiment for the currency pair USD/CHF.
FOREX Trend and News Today:
Bollinger Bands show a continuation of the downward movement, the bands widen and sent down, so now it is recommended to consider options for short positions. MACD turned down which indicates a downward price movement if the indicator unfold upward, it could signal the beginning of the corrective movement. Indicator also can start at any time to discharge. If the price bounces from 0.8873 level, it can also trigger coil upward correction.
Trading recommendations: franc on the foreign exchange market is now advised to consider shorts with the first goal -0.8873 . When fixing prices below the first target, a target for sales are encouraged to consider the level of 0.8821. Stop-loss orders placed above 0.8970, and if this line will be reduced, it is possible to carry stop-loss after her. Close short positions recommended in case prices rebound from 0.8873 or turn up the MACD indicator. When profitnye deal 50-60 points, stop-loss can be transferred to zero. Take- profits can be set slightly higher than the target levels by about 5-10 points- at the levels of 0.8880 and 0.8825. In addition to the technical picture should also consider the fundamental data and the time of their release.
