Latest Trade Ideas

Candlesticks Intraday

Trade Idea : USD/CHF - Sell at 0.9680

Typography

USD/CHF - 0.9650


Most recent candlesticks pattern : N/A

Trend                                    : Near term up


Tenkan-Sen level                  : 0.9642

Kijun-Sen level                    : 0.9623

Ichimoku cloud top                 : 0.9589

Ichimoku cloud bottom              : 0.9552


Original strategy :

Sell at 0.9680, Target: 0.9580, Stop: 0.9715

Position : -

Target :  -

Stop : -


New strategy  :

Sell at 0.9680, Target: 0.9580, Stop: 0.9715

Position : -

Target :  -

Stop : -


Although the greenback has maintained a firm undertone after yesterday’s rise in NY and near term upside risk remains for the rally from 0.9421 low to bring retracement of early decline, overbought condition should limit upside to 0.9680 (previous resistance as well as 38.2% Fibonacci retracement of 1.0100-0.9421) and bring retreat later , below the 0.9605-10 would bring test of support at 0.9584 (yesterday’s low) but reckon downside would be limited to 0.9540-45 and 0.9515-20 should hold, bring another upmove later.

In view of this, we are inclined to turn short on further subsequent rise. Above 0.9698-99 resistance would extend gain to 0.9725-30 but still reckon upside would be limited and 0.9761-66 (50% Fibonacci retracement of 1.0100-0.9421 and previous resistance) should hold, risk remains for another retreat to take place soon.