USD/CHF – 0.9900

Most recent candlesticks pattern : N/A

Trend                                    : Near term down

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Tenkan-Sen level                  : 0.9895

Kijun-Sen level                    : 0.9892

Ichimoku cloud top                 : 0.9868

Ichimoku cloud bottom              : 0.9862

Original strategy :

Buy at 0.9860, Target: 0.9960, Stop: 0.9825

Position : –

Target :  –

Stop : –

New strategy  :

Stand aside

Position : –

Target :  –

Stop : –

 

* FINAL UPDATE, HOPE TO SEE U ALL AGAIN SOON ! *

As the greenback found support at 0.9828 and staged a strong rebound, retaining our view that further consolidation would be seen with mild upside bias for gain to 0.9915-20, however, break of resistance at 0.9935-36 is needed to signal low has been formed, bring a stronger rebound to 0.9960-65 but indicated resistance at 0.9978 should hold from here.

In view of this, would not chase this rebound here and would be prudent to stand aside for now. Below 0.9860 would bring test of said support at 0.9828, break there would revive bearishness and extend the decline from 0.9978 to 0.9795-00, however, reckon downside would be limited to 0.9750 and risk from there has increased for a rebound later.

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