USD/CHF – 0.9907
Most recent candlesticks pattern : N/A
Trend                                   : Sideways
Tenkan-Sen level                 : 0.9937
Kijun-Sen level                   : 0.9940
Ichimoku cloud top                : 0.9961
Ichimoku cloud bottom             : 0.9959
New strategy :
Sell at 0.9940, Target: 0.9840, Stop: 0.9975
Position : –
Target :Â –
Stop : –
As the greenback has dropped after meeting renewed selling interest at 0.9987 yesterday, suggesting the fall from 1.0038 top is still in progress and may extend weakness to 0.9885-90 (50% Fibonacci retracement of 0.9737-1.0038), break there would bring further fall to support at 0.9869 but near term oversold condition should limit downside to previous resistance at 0.9837 and price should stay above 0.9795-00.
In view of this, we are looking to sell dollar on subsequent recovery but at a lower level as 0.9940 should limit upside. Above 0.9970-75 would defer but only break of resistance at 0.9987 would signal the fall from 1.0038 has ended instead, bring further gain to 1.0015-20 first.
