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 30)

Tatyana Norkina, FBS analyst

Daily. Last week the currency pair rose moderately to the area of strong resistance at 0.8975. It’s difficult for the bulls to break higher without a corrective decline. Note that the market is still overbought. Therefore, despite the relatively strong bullish indicator in the near future we should expect depreciation of the pair to the Tenkan-Kijun channel.

Chart. Daily USD/CHF

H4. At H4 as well there are no changes compared to the previous week. The Ichimoku indicator is still on the buyers’ side. Ichimoku Cloud is gradually expanding upwards and Tenkan and Kijun formed another Golden Cross (C), which can support new purchases of the currency pair. But it will be a short-term burst of activity from the bulls. Then there may be a full-blown correction.

Chart. H4 USD/CHF

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