USD/CHF – 1.0066
Most recent candlesticks pattern : N/A
Trend                                   : Near term up
Tenkan-Sen level                 : 1.0064
Kijun-Sen level                   : 1.0039
Ichimoku cloud top                : 0.9961
Ichimoku cloud bottom             : 0.9926
Original strategy :
Buy at 0.9980, Target: 1.0080, Stop: 0.9945
Position : –
Target :Â –
Stop : –
New strategy :
Buy at 1.0005, Target: 1.0105, Stop: 0.9970
Position : –
Target :Â –
Stop : –
Although dollar has eased after rising to 1.0091 and consolidation below this level would be seen, reckon pullback would be limited to the Kijun-Sen (now at 1.0039) and renewed buying interest should emerge around 1.0000-05, bring another rise, above said resistance would add credence to our view that early upmove has resumed for retest of 1.0108 resistance, break there would confirm and encourage for headway to 1.0130 and then 1.0150-55.Â
In view of this, would not chase this rise here and we are looking to buy dollar on pullback as 1.0000-05 should limit downside. Only below previous resistance at 0.9957 would defer and suggest top is possibly formed, bring test of 0.9920-25 but break of previous resistance at 0.9903 is needed to add credence to this view, bring further fall to 0.9880-85.
