USD/CHF – 0.9952
Most recent candlesticks pattern : N/A
Trend : Sideways
Tenkan-Sen level : 0.9969
Kijun-Sen level : 0.9951
Ichimoku cloud top : 0.9970
Ichimoku cloud bottom : 0.9956
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Although the greenback found support at 0.9922 late last week and has recovered, reckon upside would be limited to 0.9995-1.0000 and price should falter below 1.0020, bring another decline later, below 0.9920-22 (38.2% Fibonacci retracement of 0.9737-1.0038) would extend the erratic decline from 1.1038 top to 0.9885-90 (50% Fibonacci retracement) but reckon support at 0.9869 should remain intact, bring rebound later.
In view of this, we are looking to sell dollar on recovery as 1.0000 should limit upside. Only break of said resistance at 1.0038 would revive bullishness and confirm the rise from 0.9421 low has resumed and extend further gain to 1.0050-55, then towards 1.0075-80 but price should falter below 1.0100 chart resistance.
