USDCHF: weekly review (14/11)
Tatiana Norkina, FBS analyst
Daily. The resistance of 0.9740 indeed suspended restoration of the currency pair, which was discussed in the previous review. Last week the pair consolidated near Tenkan-sen line and entered Tenkan-Kijun channel. Clearly, fixing under Tenkan can make short-term players begin to abandon long positions. This will lead to a course of corrective decline to the support line Kijun-sen.
Graph. Daily USD/CHF
H4. On 4-hour graphs USD/CHF pair entered the cloud. Another attempt to reach the positive region failed today. Therefore, considering also the testimony of the oscillators, one can assume that in the near future the market will keep short-term bearish trend. There is a possibility of testing the lower boundary of the cloud.
Graph. H4 USD/CHF