USD/CHF – 0.9047
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level :0.9039
Kijun-Sen level :0.9004
Ichimoku cloud top :0.8982
Ichimoku cloud bottom :0.8958
Original strategy :
Buy at 0.8970, Target: 0.9100, Stop: 0.8935
Position: –
Target: –
Stop:-
New strategy :
Buy at 0.8970, Target: 0.9100, Stop: 0.8935
Position: –
Target: –
Stop:-
Dollar’s intra-day rally to 0.9086 after breaking previous resistance at 0.9022 suggests the decline from 0.9183 top has possibly ended at 0.8918 and consolidation with upside bias is seen for further gain to 0.9100 would be seen, however, it is necessary to see a breach of previous resistance at 0.9144 to retain bullishness and signal early upmove has resumed for eventual retest of 0.9183.
In view of this, we are still looking to buy dollar on pullback as 0.8958-65 (current level of the Ichimoku cloud bottom and previous support) should limit downside. Only below said support at 0.8918 would extend the decline from 0.9183 towards previous support at 0.8886 before prospect of another rebound later.
