USD/CHF: Ichimoku analysis (Mar. 21)
Tatiana Norkina, FBS analyst
Daily. The pair strengthened over the past week, recovering towards the Kijun-sen line (0.8865). This level is a hard nut to crack for the bulls. We see the recent growth as corrective and expect а consolidation around the Tenkan and Kijun lines next week. The pair may slide into the 0.8750 area. Both long- and short-term trends are bearish.
Chart. Daily USD/CHF
H4. The pair broke above the Cloud and moved into the positive zone this week. It could fix above the Cloud, but the overbought market conditions may pull the pair lower. Chinkou Span is in a risky zone. As a result, we expect the pair to slide into the Cloud, towards the Tenkan and Kijun lines.
Chart. H4 USD/CHF