USD/CHF – 0.9625
Most recent candlesticks pattern : N/A
Trend : Down
Tenkan-Sen level : 0.9590
Kijun-Sen level : 0.9605
Ichimoku cloud top : 0.9640
Ichimoku cloud bottom : 0.9556
New strategy :
Stand aside
Position : –
Target : –
Stop : –
The greenback only slipped to as low as 0.9547 in US morning before finding renewed buying interest (missed our long entry at 0.9540), this anticipated rebound signals an intra-day low has been formed there and consolidation with upside bias is seen for gain to 0.9640-50, however, break there is needed to signal the pullback from yesterday’s high of 0.9680 has ended, bring retest of this level, break there would confirm the rise from 0.9428 low has resumed and extend headway to 0.9698-99 resistance first.
In view of this, would not chase this rise here and would be prudent to buy dollar on subsequent retreat. Below 0.9575-80 would risk another test of 0.9547 and possibly support at 0.9539, however, only break there would shift risk to downside and signal the rise form 0.9428 has ended, then weakness towards 0.9500 would follow.
