USD/CHF – 0.9734
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 0.9729
Kijun-Sen level : 0.9729
Ichimoku cloud top : 0.9792
Ichimoku cloud bottom : 0.9778
Original strategy :
Bought at 0.9700, Target: 0.9800, Stop: 0.9665
Position : – Long at 0.9700
Target : – 0.9800
Stop : – 0.9665
New strategy :
Hold long entered at 0.9700, Target: 0.9800, Stop: 0.9690
Position : – Long at 0.9700
Target : – 0.9800
Stop : – 0.9690
Although dollar has fallen again after meeting renewed selling interest at 0.9766, loss of downward momentum should prevent sharp fall to repeat and bring subsequent rebound, above said resistance at 0.9766 would bring subsequent bounce to 0.9800 but reckon upside would be limited to 0.9825 and previous resistance at 0.9851 should remain intact, bring another decline later.
In view of this, we are holding on to our long position entered at 0.9700. Below 0.9670-75 would risk weakness to 0.9650 but still reckon downside would be limited to 0.9620-25 and bring another rebound later.
