USD/CHF: Ichimoku analysis (Mar. 14)
Tatiana Norkina, FBS analyst
Daily. USD/CHF keeps on hitting fresh lows. This week the exchange rate lowered to 0.8700, but the pair formed a daily reversal candle on Thursday. Given the overbought market conditions, the pair is likely to correct towards Tenkan and Kijun lines in the near term. The bearish trend remains in place, however.
Chart. Daily USD/CHF
H4. The pair recovered to Tenkan and Kijun lines after a test of the 0.8700 round figure. However, the overall trend remains descending. The dead cross (С) is still active, while the Cloud itself is bearish. It would be hard for the buyers to fix above Tenkan and Kijun. .
Chart. H4 USD/CHF
To contact the writer of this story: Tatiana Norkina, firstname.lastname@example.org