USD/CHF – 0.9683
Most recent candlesticks pattern : N/A
Trend                                   : Sideways
Tenkan-Sen level                 : 0.9687
Kijun-Sen level                   : 0.9667
Ichimoku cloud top                : 0.9636
Ichimoku cloud bottom             : 0.9634
Original strategy :
Buy at 0.9630, Target: 0.9730, Stop: 0.9595
Position : –
Target :Â –
Stop : –
New strategy :
Buy at 0.9630, Target: 0.9730, Stop: 0.9595
Position : –
Target :Â –
Stop : –
As the greenback has staged a strong rebound after holding above indicated support at 0.9583-86, suggesting the retreat from 0.9766 has ended at 0.9586 last week and consolidation with mild upside bias is seen for gain to 0.9720, then 0.9740, however, reckon resistance at 0.9766-73 would cap upside and bring further consolidation. Only a break of 0.9773 would retain bullishness and signal early rise from 0.9438 has resumed and extend gain to 0.9800.
In view of this, we are looking to buy dollar on pullback as 0.9620-30 should limit downside. Below 0.9600 would risk test of strong support at 0.9583-86 but only break there would signal a downside break of recent broad range has occurred, bring subsequent fall to 0.9550.
