USD/CHF – 0.9744
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 0.9740
Kijun-Sen level : 0.9696
Ichimoku cloud top : 0.9629
Ichimoku cloud bottom : 0.9628
New strategy :
Buy at 0.9695, Target: 0.9795, Stop: 0.9660
Position : –
Target : –
Stop : –
As the greenback has continued heading north after this week’s anticipated rally, suggesting the retreat from 0.9773 has ended at 0.9583, hence consolidation with upside bias remains for another test of said resistance, however, break there is needed to confirm early rise from 0.9438 low has resumed and extend gain to 0.9808 and possibly 0.9825 resistance, however, near term overbought condition should limit upside and price should falter below previous support at 0.9859.
In view of this, we are looking to reinstate long on pullback as 0.9695-00 should limit downside and bring another rise later. Below previous resistance at 0.9675 would defer and risk weakness towards 0.9640 but downside should be limited to 0.9615-20 and bring another rise later.
