USD/CHF – 0.9927
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 0.9931
Kijun-Sen level : 0.9910
Ichimoku cloud top : 0.9911
Ichimoku cloud bottom : 0.9897
Original strategy :
Sold at 0.9935, Target: 0.9835, Stop: 0.9950
Position : – Short at 0.9935
Target : – 0.9835
Stop : – 0.9950
New strategy :
Hold short entered at 0.9935, Target: 0.9835, Stop: 0.9950
Position : – Short at 0.9935
Target : – 0.9835
Stop : – 0.9950
Dollar’s rebound after finding support at 0.9876 suggests further consolidation would be seen, as long as indicated resistance at 0.9946 holds, bearishness remains for another retreat, below said support at 0.9876 would add credence to our view that the rebound from 0.9846 has ended at 0.9946, bring further fall to 0.9860, then retest of 0.9846. Once this level is penetrated, this would signal the erratic decline from 1.0038 top has resumed for at least a retracement of early upmove to previous resistance at 0.9837, break below there would encourage for subsequent decline towards 0.9795-00.
In view of this, we are holding on to our short position entered at 0.9935. Above said resistance at 0.9946 would defer and risk test of 0.9970-75 but price should alter below resistance at 0.9987, bring another decline later.
