USD/CHF – 0.9888
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 0.9880
Kijun-Sen level : 0.9878
Ichimoku cloud top : 0.9851
Ichimoku cloud bottom : 0.9803
Original strategy :
Buy at 0.9820, Target: 0.9920, Stop: 0.9785
Position : –
Target : –
Stop : –
New strategy :
Buy at 0.9825, Target: 0.9925, Stop: 0.9790
Position : –
Target : –
Stop : –
As the greenback has continued trading with a firm undertone after staging a strong rebound from 0.9735 (last Friday’s low), adding credence to our view that a temporary low has been formed there and consolidation with upside bias remains for this move to bring at least a strong retracement of recent decline to 0.9920 and later towards resistance at 0.9947 but reckon 0.9990-00 would hold from here due to near term overbought condition.
In view of this, we are looking to buy dollar on dips as 0.9820-25 should limit downside and bring another rebound. Below 0.9790 would defer and risk weakness to 0.9755-60 but still reckon said last week’s low at 0.9735 would remain intact.
