USD/CHF – 1.0005
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.0010
Kijun-Sen level : 1.0037
Ichimoku cloud top : 1.0078
Ichimoku cloud bottom : 1.0074
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Friday’s selloff suggests a temporary top has possibly been formed at 1.0100 last week and consolidation with downside bias remains for retracement of recent rise towards 0.9980 (50% Fibonacci retracement of 0.9859-1.0100), break there would add credence to this view, bring further fall to 0.9950-55 (61.8% Fibonacci retracement) but price should stay well above previous resistance at 0.9903, bring rebound next week.
In view of this, would be prudent to stand aside in the meantime. Above 1.0045-50 would bring recovery to 1.0080-85, however, price should falter below strong resistance at 1.0100-8 and bring further consolidation later.
