Trade Idea: USD/CHF - Sell At 1.0125

USD/CHF - 1.0045

Most recent candlesticks pattern : N/A

Trend : Sideways

Tenkan-Sen level : 1.0073
Kijun-Sen level : 1.0120
Ichimoku cloud top : 1.0218
Ichimoku cloud bottom : 1.0195

Original strategy

Sell at 1.0190, Target: 1.0040, Stop: 1.0250

New strategy

Sell at 1.0125, Target: 1.0005, Stop: 1.0185

As the greenback has remained under pressure, suggesting medium term downtrend would resume and break of recent low at 1.0033 would extend towards 1.0000/11 (psychological support and previous chart support), below there would extend to next downside target at 0.9950, however, loss of near term downward momentum should prevent sharp fall below 0.9900 and risk from there has increased for a rebound later.

In view of the above analysis, we are looking to sell dollar on recovery but at a lower entry level. Only above 1.0202-18 (previous resistance and the Ichimoku cloud top (now at 1.0218) would suggest low is possibly formed.