USD/CHF: weekly Ichimoku analysis
By Tatyana Norkina, FBS analyst
Daily. The currency pair recoiled from the resistance of the daily Kijun-sen at the beginning of last week and declined to the upper limit of the Ichimoku Cloud. At this point, however, support provided by Tenkan-sen in the 0.8900 area stopped the bears. Therefore, prices are still within the Tenkan-Kijun channel.
H4. Resistance at the upper limit of the H4 Ichimoku Cloud didn’t let the bulls to get to the positive area. During the whole week the pair has been trading inside the Cloud sliding to the support of its lower border. Consolidation under the Senkou Span B that began in the end of the week will likely with the break below the Cloud. Then trading will continue in the negative area, as the indicator points to a sell-off. Indeed, the Cloud has strengthened its bearish tone with an acting dead cross.