USD/CHF – 0.9943
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 0.9953
Kijun-Sen level : 0.9980
Ichimoku cloud top : 1.0044
Ichimoku cloud bottom : 1.0023
Original strategy :
Sell at 1.0035, Target: 0.9935, Stop: 1.0070
Position : –
Target : –
Stop : –
New strategy :
Sell at 1.0020, Target: 0.9920, Stop: 1.0055
Position : –
Target : –
Stop : –
As the greenback has remained under pressure after Friday’s selloff, suggesting the fall from 1.0100 top is still in progress and further weakness to 0.9930 and possibly towards previous resistance at 0.9903 would be seen, however, near term oversold condition should prevent sharp fall below 0.9875-80 and price should stay above support at 0.9859, bring rebound later.
In view of this, would be prudent to sell dollar on recovery as 1.0020 should limit upside. Above previous support at 1.0056 would defer and risk a stronger rebound to 1.0080 but price should falter below resistance at 1.0100-08, bring retreat later.
