USD/CHF – 0.9908
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 0.9911
Kijun-Sen level : 0.9891
Ichimoku cloud top : 0.9921
Ichimoku cloud bottom : 0.9888
Original strategy :
Sold at 0.9935, Target: 0.9835, Stop: 0.9970
Position : – Short at 0.9935
Target : – 0.9835
Stop : – 0.9970
New strategy :
Hold short entered at 0.9935, Target: 0.9835, Stop: 0.9970
Position : – Short at 0.9935
Target : – 0.9835
Stop : – 0.9970
As the greenback has rebounded after falling to 0.9846 yesterday, suggesting minor consolidation above this level would be seen and marginal gain from here cannot be ruled out, however, reckon 0.9940-45 would limit upside and bring another decline later, below said support at 0.9846 would signal the erratic decline from 1.0038 top is still in progress for at least a retracement of early upmove to previous resistance at 0.9837, break below there would encourage for subsequent decline towards 0.9795-00 which is likely to hold on first testing.
In view of this, we are holding on to our short position entered at 0.9935. 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.
