USD/CHF – 0.9945
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 0.9955
Kijun-Sen level : 0.9967
Ichimoku cloud top : 1.0004
Ichimoku cloud bottom : 0.9978
Original strategy :
Exit short entered at 1.0000,
Position : – Short at 1.0000
Target : –
Stop : –
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Although the greenback has remained under pressure and mild downside bias remains for recent decline from 1.0108 top to extend weakness to 0.9935-38 (50% projection of 1.0067-0.9955 measuring from 0.9992) and then 0.9926 (61.8% Fibonacci retracement of 0.9813-1.0108) but reckon 0.9900-05 (1.618 times projection of 1.0108-1.0008 measuring from 1.0067) would hold, bring rebound later.
In view of this, would not chase this fall here and would be prudent to stand aside for now. Above resistance at 0.9992 would suggest low is possibly formed but break of previous support at 1.0008 is needed to add credence to this view, bring a stronger rebound to 1.0020-30.
