USD/CHF – 0.9865
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 0.9853
Kijun-Sen level : 0.9885
Ichimoku cloud top : 0.9913
Ichimoku cloud bottom : 0.9909
Original strategy :
Bought at 0.9860, Target: 0.9970, Stop: 0.9825
Position : – Long at 0.9860
Target : – 0.9970
Stop : – 0.9825
New strategy :
Exit long entered at 0.9860,
Position : – Long at 0.9860
Target : –
Stop : –
Dollar’s overnight post-Fed selloff dampened our bullishness and suggests near term downside risk remains for the fall from 0.9978 top to bring retracement of recent rise, below 0.9840 would extend weakness to 0.9820, then towards 0.9790-95, having said that, near term oversold condition should limit downside and price should stay above 0.9755-60, bring rebound later.
In view of this, would be prudent to exit long entered at 0.9860 and stand aside in the meantime. Above the Kijun-Sen (now at 0.9885) would bring rebound to 0.9910-15 but only break of resistance at 0.9936 would revive bullishness and signal low is formed instead, bring further gain to 0.9950-60 first.
