USD/CHF – 0.9932
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 0.9938
Kijun-Sen level : 0.9945
Ichimoku cloud top : 0.9948
Ichimoku cloud bottom : 0.9947
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Although dollar has slipped again after faltering below resistance at 0.9981 and near term downside risk remains for weakness towards yesterday’s low at 0.9893, break there is needed to confirm recent decline from 1.0108 has resumed and extend weakness to 0.9865-70 (2 times extension of 1.0108-1.0008 measuring from 1.0067) but reckon support at 0.9831 would hold from here, bring rebound later.
In view of this, would be prudent to stand aside in the meantime. Above 0.9960 would prolong consolidation, bring another bounce to 0.9981 but break of 1.0000-08 resistance is needed to signal low is formed instead, bring rebound to 1.0025-30 (61.8% Fibonacci retracement of 1.0108-0.9893), however, price should falter below resistance at 1.0067.
