USD/CHF Signal- June 4, 2012

Alp Kocak

Currency: USD/CHF
Trend Expected Direction: Up
Method: Ichimoku, Technical Analysis
Description: USD/CHF turned south after it failed to break above 0.9770. The pair closed the week below the kumo (30M and 1H charts). This indicates that the pair is going to test 0.9645 support first and then head towards 0.9600 area. This position is against the current trend so enter with a trailing stop of 20 pips.
Recommendation: Short
Entry: 0.9682
Target Area: 0.9650 and 0.9625
Stop-Loss: 0.9700

USDCHF Signal 6412

For an update as of 1:00 PM GMT click here

Alp Kocak
Alp Kocak has been trading Forex since 2003. He writes technical analysis based on Japanese candlesticks and Ichimoku Kinko Hyo.

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