Feb 24 12:38 GMT


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Trade Idea Wrap-up: USD/CHF - Stand aside Print E-mail
Candlesticks and Ichimoku Intraday | Written by Action Forex | Jan 11 17 16:27 GMT
USD/CHF - 1.0236

Most recent candlesticks pattern : N/A

Trend                                    : Near term down

Tenkan-Sen level                  : 1.0202

Kijun-Sen level                    : 1.0188

Ichimoku cloud top                 : 1.0153

Ichimoku cloud bottom              : 1.0147

New strategy  :

Stand aside

Position : -

Target :  -

Stop : -

As the greenback has surged again after brief pullback and broke above indicated previous resistance at 1.0221, adding credence to our view that the fall from 1.0335 has ended at 1.0087 last week, hence consolidation with upside bias is seen for further gain to 1.0270-75 but a break above resistance at 1.0291 is needed to retain bullishness and suggest early upmove has resumed for headway to 1.0335-44 resistance area.

In view of this, would not chase this rise here and would be prudent to stand aside in the meantime. Below the Kijun-Sen (now at 1.0188) would defer and risk weakness to 1.0150-55 but break of latter level is needed to signal an intra-day top is formed and suggest the rebound from 1.0087 has ended, then fall towards support at 1.0111 would be seen first.


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