USD/CHF – 0.9933
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 0.9929
Kijun-Sen level : 0.9888
Ichimoku cloud top : 0.9886
Ichimoku cloud bottom : 0.9951
Original strategy :
Sold at 0.9910, Target: 0.9800, Stop: 0.9945
Position : – Short at 0.9910
Target : – 0.9800
Stop : – 0.9945
New strategy :
Exit short entered at 0.9910,
Position : – Short at 0.9910
Target : –
Stop : –
The greenback rallied after finding renewed buying interest at 0.9831 yesterday, dampening our bearishness and suggesting recent decline has ended at 0.9813, hence upside risk remains for this rise from 0.9813 to bring retracement of recent decline and further gain to resistance at 0.9960 would be seen but break there is needed to provide confirmation and retain bullishness for further rise towards another previous chart resistance at 1.0003 later.
In view of this, would be prudent to exit short entered at 0.9910 and stand aside in the meantime. below the Kijun-Sen (now at 0.9888) would suggest an intra-day top is formed instead, bring weakness to the lower Kumo (now at 0.9851) but break of said support at 0.9831 is needed to revive bearishness for retest of 0.9813 first.
