USD/CHF – 0.9903
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 0.9894
Kijun-Sen level : 0.9879
Ichimoku cloud top : 0.9935
Ichimoku cloud bottom : 0.9909
Original strategy :
Sell at 0.9920, Target: 0.9820, Stop: 0.9955
Position : –
Target : –
Stop : –
New strategy :
Sell at 0.9935, Target: 0.9835, Stop: 0.9970
Position : –
Target : –
Stop : –
As the greenback has rebounded after falling to 0.9846 yesterday, suggesting minor consolidation above this level would be seen and corrective bounce to previous support at 0.9922 (now resistance) cannot be ruled out, however, reckon the upper Kumo (now at 0.9935) would limit upside and bring another decline later, below said support at 0.9846 would signal the erratic decline from 1.0038 top is still in progress for at least a retracement of early upmove to previous resistance at 0.9837, break below there would encourage for subsequent decline towards 0.9795-00 which is likely to hold on first testing.
In view of this, we are looking to sell dollar on further subsequent recovery as 0.9922 (previous support) should limit upside. Above 0.9940-45 would defer and risk test of 0.9970-75 but price should alter below resistance at 0.9987, bring another decline later.
