USD/CHF: weekly Ichimoku analysis
Tatyana Norkina, FBS
Daily. The currency pair managed to stay in the positive area after a short-term consolidation at the upper limit of the Ichimoku Cloud. Note that support in the 0.8900 area was provided not only by Senkou Span A, but also by Tenkan-sen. As a result, by the end of the week the pair rose to the level of 0.8990, while Tenkan and Kijun formed the Golden Cross. This may mean that the uptrend may soon resume.
H4. However, at H4 the pair’s strongly overbought – Chinkou Span is located far from the price chart. Therefore, we can’t exclude the possibility of the decline inside the Tenkan-Kijun channel or even to the upper boundary of the Cloud in the 0.8930 area.