USD/CHF – 1.0077
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.0079
Kijun-Sen level : 1.0078
Ichimoku cloud top : 1.0079
Ichimoku cloud bottom : 1.0039
Original strategy :
Buy at 1.0015, Target: 1.0115, Stop: 0.9980
Position : –
Target : –
Stop : –
New strategy :
Buy at 1.0015, Target: 1.0115, Stop: 0.9980
Position : –
Target : –
Stop : –
Dollar’s retreat after marginal rise to 1.0100 yesterday suggests minor consolidation below this level would be seen and pullback to support at 1.0048 cannot be ruled out, however, reckon downside would be limited to 1.0005-10 (38.2% Fibonacci retracement of 0.9859-1.0100) and bring another rise later, above said resistance at 1.0100 would extend recent rise to previous resistance at 1.0108, break there would confirm and extend rise to 1.0130 and then 1.0150-55.
In view of this, would not chase this rise here and we are looking to buy dollar on pullback as 1.0000-10 should limit downside. Below 0.9980 (50% Fibonacci retracement of 0.9859-1.0100) would defer and suggest top is possibly formed but break of previous resistance at 0.9957 is needed to signal top is formed, bring further fall to 0.9920-25, however, previous resistance at 0.9903 should remain intact.
