USD/CHF – 0.9613
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 0.9608
Kijun-Sen level : 0.9629
Ichimoku cloud top : 0.9655
Ichimoku cloud bottom : 0.9655
Original strategy :
Buy at 0.9585, Target: 0.9685, Stop: 0.9550
Position : –
Target : –
Stop : –
New strategy :
Buy at 0.9555, Target: 0.9655, Stop: 0.9520
Position : –
Target : –
Stop : –
Although the greenback retreated after rising to 0.9688 and near term downside risk remains for initial weakness to 0.9580, reckon last week’s low at 0.9552 would limit downside and bring another rebound later, above 0.9660 would signal the retreat from 0.9688 has ended and bring test of this level, 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 further 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.
