USD/CHF – 0.9871
Most recent candlesticks pattern : N/A
Trend : Sideways
Tenkan-Sen level : 0.9885
Kijun-Sen level : 0.9920
Ichimoku cloud top : 0.9963
Ichimoku cloud bottom : 0.9956
Original strategy :
Sell at 0.9940, Target: 0.9840, Stop: 0.9975
Position : –
Target : –
Stop : –
New strategy :
Sell at 0.9920, Target: 0.9820, Stop: 0.9955
Position : –
Target : –
Stop : –
As the greenback has fallen again after brief recovery, suggesting the erratic decline from 1.0038 top is still in progress for at least a retracement of early upmove, hence bearishness remains for this fall to extend further weakness to support at 0.9869, then previous resistance at 0.9837, break of latter level would encourage for subsequent decline towards 0.9795-00 which is likely to hold on first testing due to near term oversold condition.
In view of this, we are looking to sell dollar on subsequent recovery but at a lower level as 0.9922 (previous support) should limit upside. Above 0.9940-45 would defer and risk test of 0.9970-75 but price should alter below resistance at 0.9987, bring another decline later.
