USD/CHF – 0.9639
Most recent candlesticks pattern : N/A
Trend : Down
Tenkan-Sen level : 0.9636
Kijun-Sen level : 0.9593
Ichimoku cloud top : 0.9529
Ichimoku cloud bottom : 0.9503
Original strategy :
Buy at 0.9540, Target: 0.9640, Stop: 0.9505
Position : –
Target : –
Stop : –
New strategy :
Buy at 0.9540, Target: 0.9640, Stop: 0.9505
Position : –
Target : –
Stop : –
As the greenback surged again after this week’s rally from 0.9428, adding credence to our view that recent decline has ended there and upside bias remains for the rise from 0.9428 low to extend further gain to previous resistance at 0.9663, however, near term overbought condition should limit upside and reckon another previous resistance at 0.9698-99 would hold from here, risk from there has increased for a retreat to take place later.
In view of this, we are looking to buy dollar on pullback as 0.9539 support should limit downside and bring another rebound later. Below 0.9500-10 would defer and suggest first leg of rise from 0.9428 has ended, risk weakness to 0.9470 but price should stay well above said support at 0.9428, bring another rebound.
