USD/CHF – 0.9642
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 0.9631
Kijun-Sen level : 0.9626
Ichimoku cloud top : 0.9657
Ichimoku cloud bottom : 0.9648
Original strategy :
Buy at 0.9555, Target: 0.9655, Stop: 0.9520
Position : –
Target : –
Stop : –
New strategy :
Buy at 0.9555, Target: 0.9655, Stop: 0.9520
Position : –
Target : –
Stop : –
Remark: Due to holidays, update will resume on 19 July 2017.
Although the greenback has rebounded in NY morning, reckon upside would be limited to 0.9675-80 and risk of another retreat cannot be ruled out, below support at 0.9598 would bring weakness to 0.9560-65, however, reckon last week’s low at 0.9552 would limit downside and bring another rebound later to resistance at 0.9688, break there would signal low has been formed at 0.9552, bring retracement of early decline to 0.9700 and later towards resistance area at 0.9738-43.
In view of this, we are inclined to buy dollar on subsequent fall. Below said support at 0.9552 would signal recent decline has resumed instead, then weakness to 0.9520-25 would follow but reckon 0.9500 would hold on first testing.
