4H
General situation:
On April 18, the USD/CHF pair remains within the Ichimoku Cloud resulting in formation of the signal for Sell-deals. At the same time it does not stimulate any trading strategy. The current signal for Sell-deals is confirmed and weak, as Chinkou Span is fixed above the price chart and the price has entered the Ichimoku Cloud. That is the reason why the targets for downside movement are seen at the first support level 0.9042 though it is recommended to trade at this level only when the current signal has strengthened. In case this level has been passed through, the new target for bearish trading – the second support level 0.8993 – will be available. The downward movement remains the same as long as the price is lower than the Kijun-Sen line (0.9170). While bearish trading below this line it is recommended to place Stop Loss. If the price goes higher than this line, the signal for Sell-deals will weaken and the further elaboration of the descending movement will be questioned. Chinkou Span is located below the price chart confirming the current signal for Sell-deals and indicating the bearish mood on the USD/CHF market. Bollinger Bands indicates the current sideways movement; lines are restricted and directed sideways that is the reason why it is better to refrain from opening any positions. MACD has reversed to upwards pointing at the current ascending movement of the price. Nevertheless, considering the general picture, the situation is not very favorable for trading.
Trading recommendations:
On the USD/CHF market is recommended to open short positions with first target seen at the 0.9042 level but only when the price is fixed below the Ichimoku Cloud. When this level has been passed through, it is recommended to consider the 0.8993 level for Sell-deals. Stop Loss is to be placed above 0.9170 and if this line goes downwards, Stop Loss can be placed after it. While opening the short positions MACD is to be directed downwards. With 50-60 pips of profit, Stop Loss can be placed into the zero area. Take Profits can be placed a bit higher than the target levels (10-15 pips approximately). In general the situation for trading is considered as not positive.
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.
The material has been provided by Instaforex Company - instaforex.com
General situation:
On April 18, the USD/CHF pair remains within the Ichimoku Cloud resulting in formation of the signal for Sell-deals. At the same time it does not stimulate any trading strategy. The current signal for Sell-deals is confirmed and weak, as Chinkou Span is fixed above the price chart and the price has entered the Ichimoku Cloud. That is the reason why the targets for downside movement are seen at the first support level 0.9042 though it is recommended to trade at this level only when the current signal has strengthened. In case this level has been passed through, the new target for bearish trading – the second support level 0.8993 – will be available. The downward movement remains the same as long as the price is lower than the Kijun-Sen line (0.9170). While bearish trading below this line it is recommended to place Stop Loss. If the price goes higher than this line, the signal for Sell-deals will weaken and the further elaboration of the descending movement will be questioned. Chinkou Span is located below the price chart confirming the current signal for Sell-deals and indicating the bearish mood on the USD/CHF market. Bollinger Bands indicates the current sideways movement; lines are restricted and directed sideways that is the reason why it is better to refrain from opening any positions. MACD has reversed to upwards pointing at the current ascending movement of the price. Nevertheless, considering the general picture, the situation is not very favorable for trading.
Trading recommendations:
On the USD/CHF market is recommended to open short positions with first target seen at the 0.9042 level but only when the price is fixed below the Ichimoku Cloud. When this level has been passed through, it is recommended to consider the 0.8993 level for Sell-deals. Stop Loss is to be placed above 0.9170 and if this line goes downwards, Stop Loss can be placed after it. While opening the short positions MACD is to be directed downwards. With 50-60 pips of profit, Stop Loss can be placed into the zero area. Take Profits can be placed a bit higher than the target levels (10-15 pips approximately). In general the situation for trading is considered as not positive.
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.
The material has been provided by Instaforex Company - instaforex.com
