Sun, Aug 14, 2022 @ 04:21 GMT
HomeTrade IdeasCandlesticks IntradayTrade Idea : USD/CHF - Buy at 1.0215

Trade Idea : USD/CHF – Buy at 1.0215

USD/CHF – 1.0259

Most recent candlesticks pattern : N/A

Trend : Up

Tenkan-Sen level : 1.0235

Kijun-Sen level : 1.0225

Ichimoku cloud top : 1.0188

Ichimoku cloud bottom : 1.0160

New strategy :

Buy at 1.0225, Target: 1.0325, Stop: 1.0190

Position : –

Target : –

Stop : –

The greenback has risen again after finding renewed buying interest at 1.0210, suggesting the rally from 1.0057 (last week’s low) is still in progress and may extend further gain to 1.0290-00 but break of resistance at 1.0322 (last week’s high) is needed to retain bullishness and extend recent upmove to 1.0344 resistance (last month’s high), then towards 1.0390-00 which is likely to hold from here due to near term overbought condition.

In view of this, we are looking to buy dollar on pullback as support at 1.0210 should limit downside. Only below 1.0180-85 support would abort and signal an intra-day top is formed, risk weakness to 1.0160 but still reckon support at 1.0144 would contain weakness.

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