Feb 25 04:56 GMT


Forex Expos

Trade Idea Update: USD/CHF - Sell at 0.9180 Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Sep 19 13 13:29 GMT
USD/CHF - 0.9108

Original strategy                                       :

Sell at 0.9180, Target: 0.9080, Stop: 0.9215

Position: -
Target:  -

New strategy  :

Sell at 0.9180, Target: 0.9080, Stop: 0.9215

Position: -
Target:  -

As the greenback has remained under pressure after yesterday's selloff to previous support at 0.9130-47 due to dovish FOMC minutes, suggesting recent decline from 0.9839 (2013 high) is still in progress and may extend further weakness to 0.9090 (approx. 1.618 times projection of 0.9341-0.9225 measuring from 0.9279) and possibly to 0.9060-65 (2 times extension of 0.9455-0.9302 measuring from 0.9371) but reckon near term oversold condition would limit downside to 0.9040-50 and price should stay above psychological support at 0.9000.

In view of this, we are looking to sell dollar on recovery as the Kijun-Sen (now at 0.9179) should limit upside. Only above previous support at 0.9225 would defer and suggest a temporary low is formed, risk correction towards the Ichimoku cloud (now at 0.9260-61) before prospect of another decline.


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Candlesticks Intraday Trade Ideas Update Schedule (GMT):
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