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: correction has started

Tatyana Norkina, FBS analyst

The currency pair seemed to start the long-awaited correction, but the support at 0.8910 forced the pair up to the recent levels and recover to the levels around 0.8975. Even if the correction continues, it will take a long time.

Ichimoku indicator. This is confirmed by the Ichimoku lines. There’s a Dead Cross formed by Tenkan and Kijun at H4. The Ichimoku Cloud in recent days has dramatically narrowed which may mean that it will soon change direction.

At H1 the situation is the opposite. Yesterday Tenkan and Kijun built a Golden Cross, while the Cloud has shrunk.

In such situation the bulls may be stopped by resistance at 0.8975. But the proximity of powerful supports at 0.8910 and 0.8930 will the bears.

Technical levels: support - 0.8910, 0.8930, 0.8950; resistance - 0.8975, 0.8990.

Trading recommendations:

1. Sell - 0. 8975; SL - 1.8995; TP1 - 0.8950; TP2 - 0.8930.

2. Buy - 0.8910; SL - 1.8890; TP1 - 0.8950; TP2 - 0.8960.

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