USD/CHF – 0.9811
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 0.9812
Kijun-Sen level : 0.9845
Ichimoku cloud top : 0.9913
Ichimoku cloud bottom : 0.9907
Original strategy :
Sell at 0.9865, Target: 0.9765, Stop: 0.9900
Position : –
Target : –
Stop : –
New strategy :
Sell at 0.9865, Target: 0.9765, Stop: 0.9900
Position : –
Target : –
Stop : –
Dollar’s decline accelerated yesterday after breaking previous support at 0.9876 and 0.9846, adding credence to our bearish view and downside bias remains for the decline from 1.0039 top to extend further weakness to 0.9790-95, then 0.9770, however, oversold condition should prevent sharp fall below 0.9740-50 and bring rebound later.
In view of this, we are looking to sell dollar again on recovery as 0.9875-80 should limit upside and bring another decline. Above 0.9900 would defer and suggest low is possibly formed, bring rebound to 0.9920-25 burt resistance at 0.9947 should remain intact, bring another decline.
