USD/CHF: Ichimoku analysis (Dec. 27)
Daily. During the past week the currency pair has been trading inside the Tenkan-Kijun channel. The prices were mostly drifting to the lower border of this range. All lines of the Indicator remain horizontal, so the sideways move may continue. Note that the odds that the downtrend will resume are high as the Cloud remains bearish and the Dead Cross (С) is still in place.
Chart. Daily USD/CHF
H4. Here the trend is sideways as well. Here the pair has also been trading inside Tenkan-Kijun channel which itself is inside the Ichimoku Cloud. However, on Friday the sellers livened up and the pair fell to the lower border of the Cloud. As Chinkou Span went below the price chart, we expect downtrend to develop in the near term.
Chart. H4 USD/CHF
Tatyana Norkina, FBS analyst