Technical analysis of USD/CHF dated 14.01.2013
Right now USD/CHF is in descending trend in 4H time frame and could record the bottom price of 0.91089 during its descend. The price by reaching to the ascending trend line which is drawn in the picture below could not pass the supportive level and by forming the bottom price of 0.91089 provides a field for price reformation. Right now the mentioned top price is recorded by the next ascending candles and the price is above 5-Day moving average which warns the possibility of ascends during the next candles.There is a Bat harmonic pattern between the bottom price of 0.90900 and the top price of 0.93021 according to the formed movements that by completing of the D point, there is a warning for increase of price in this area. RSI indicator confirms the bottom price of 0.91089 and it is in saturation sell area and warns the ascending of price. Generally according to the formed signs until the bottom price of 0.90828 is preserved, there is a potential for ascending and price reformation in this currency pair.