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Tatyana graduated from Bashkir State University with the major of Applied Mathematics and IT. She used to work as a system analyst in a large IT company. Entered the financial markets in 2008. Her trading system is based on classical technical analysis, Ichimoku indicator and the elements of fundamental analysis. Tatyana is very dedicated to her family and children. In her free time she enjoys rising a bicycle.

USD/CHF: Ichimoku analysis (May 23)

Tatyana Norkina, FBS

Daily. The currency pair continues moderate recovery. Last week the pair returned to the recent highs in the 0.8950 area, the bulls can’t act in full force as the market’s overbought. Indeed, now Chinkou Span shows that the pair’s maximum overbought, so we should expect a corrective decline soon. This can happen even after prices make a bounce to the area of strong resistance 0.8975 .

Chart. Daily USD/CHF

H4. At H4 the pair used support of the Ichimoku Cloud top for the resumption of growth. However, the proximity of the last week highs makes market participants cautious. While there is a consolidation in prices above Tenkan and Kijun, the latter have already started forming a positive cross. The probability of breaking above the current peaks is now high.

Chart. H4 USD/CHF

CHF
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