Candlesticks Intraday

Trade Idea Wrap-up: USD/CHF - Buy at 0.9555

Typography

USD/CHF - 0.9642


Most recent candlesticks pattern : N/A

Trend                                    : Near term down


Tenkan-Sen level                  : 0.9631

Kijun-Sen level                    : 0.9626

Ichimoku cloud top                 : 0.9657

Ichimoku cloud bottom              : 0.9648


Original strategy :

Buy at 0.9555, Target: 0.9655, Stop: 0.9520

Position : -

Target :  -

Stop : -


New strategy  :

Buy at 0.9555, Target: 0.9655, Stop: 0.9520

Position : -

Target :  -

Stop : -

Remark: Due to holidays, update will resume on 19 July 2017.


Although the greenback has rebounded in NY morning, reckon upside would be limited to 0.9675-80 and risk of another retreat cannot be ruled out, below support at 0.9598 would bring weakness to 0.9560-65, however, reckon last week’s low at 0.9552 would limit downside and bring another rebound later to resistance at 0.9688, break there would signal low has been formed at 0.9552, bring retracement of early decline to 0.9700 and later towards resistance area at 0.9738-43.

In view of this, we are inclined to buy dollar on subsequent fall. Below said support at 0.9552 would signal recent decline has resumed instead, then weakness to 0.9520-25 would follow but reckon 0.9500 would hold on first testing.