USD/CHF – 0.9609
Most recent candlesticks pattern : N/A
Trend : Down
Tenkan-Sen level : 0.9603
Kijun-Sen level : 0.9629
Ichimoku cloud top : 0.9613
Ichimoku cloud bottom : 0.9537
Original strategy :
Buy at 0.9540, Target: 0.9640, Stop: 0.9505
Position : –
Target : –
Stop : –
New strategy :
Buy at 0.9540, Target: 0.9640, Stop: 0.9505
Position : –
Target : –
Stop : –
Dollar’s retreat after yesterday’s rise to 0.9680 suggests minor consolidation below this level would be seen and pullback to 0.9570-75 is likely, however, reckon downside would be limited to support t 0.9539 and bring another rise later, above 0.9650 would bring test of said intra-day resistance at 0.9680, break there would extend the rise from 0.9428 low to previous resistance at 0.9698-99 but overbought condition should limit upside and reckon 0.9725-30 would hold on first testing.
In view of this, we are looking to buy dollar on further subsequent pullback as 0.9539 support should limit downside and bring another rebound later. Below 0.9500-10 would defer and suggest first leg of rise from 0.9428 has ended, risk weakness to 0.9470 but price should stay well above said support at 0.9428, bring another rebound.
