USD/CHF – 1.0020
Most recent candlesticks pattern : N/A
Trend                                   : Near term up
Tenkan-Sen level                 : 1.0047
Kijun-Sen level                   : 1.0047
Ichimoku cloud top                : 1.0083
Ichimoku cloud bottom             : 1.0056
Original strategy :
Buy at 1.0015, Target: 1.0115, Stop: 0.9980
Position : –
Target :Â –
Stop : –
New strategy :
Stand aside
Position : –
Target :Â –
Stop : –
Current selloff has dampened our bullishness and suggests top has been formed at .1.0100, hence consolidation with downside bias is seen for retracement of recent rise towards 0.9980 (50% Fibonacci retracement of 0.9859-1.0100), break there would add credence to this view, bring further fall to 0.9950-55 (61.8% Fibonacci retracement) but price should stay well above previous resistance at 0.9903, bring rebound next week.
In view of this, would be prudent to stand aside in the meantime. Above 1.0045-50 would bring recovery to 1.0080-85, however, price should falter below strong resistance at 1.0100-8 and bring further consolidation later.
