USD/CHF – 1.0023
Most recent candlesticks pattern : N/A
Trend                                   : Up
Tenkan-Sen level                 : 1.0009
Kijun-Sen level                   : 0.9987
Ichimoku cloud top                : 0.9994
Ichimoku cloud bottom             : 0.9983
Original strategy :
Bought at 0.9950, Target: 1.0050, Stop: 0.9930
Position : – Long at 0.9950
Target :Â – 1.0050
Stop : – 0.9930
New strategy :
Hold long entered at 0.9950, Target: 1.0050, Stop: 0.9950
Position : – Long at 0.9950
Target :Â – 1.0050
Stop : – 0.9950
As the greenback found renewed buying interest at 0.9948 and has staged another rebound, retaining our bullish view for recent rise to resume after consolidation, above said resistance at 1.0038 would confirm the rise from 0.9421 low has resumed and extend further gain to 1.0050-55, then towards 1.0075-80 but price should falter below 1.0100 chart resistance.
In view of this, we are holding on to our long position entered at 0.9950. Below said support at 0.9938-48 would abort and signal top is formed instead, risk correction to 0.9920-23 (38.2% Fibonacci retracement of 0.9737-1.0038) but 0.9885-90 (50% Fibonacci retracement) should limit downside and support at 0.9869 would remain intact.Â
