Trade Idea: USD/CHF - Buy at 1.0005

USD/CHF - 1.0086
Most recent candlesticks pattern : N/ATrend : Down
Tenkan-Sen level : 1.0073Kijun-Sen level : 1.0101Ichimoku cloud top : 1.0221Ichimoku cloud bottom : 1.0159
Original strategy :
Buy at 1.0005, Target: 1.0165, Stop: 0.9945
New strategy :
Buy at 1.0005, Target: 1.0165, Stop: 0.9945
The greenback has remained sidelined as suggested in our previous update and further sideways trading above the fresh 2009 low of 1.0033 formed last Friday would continue and although recovery to the Kijun-Sen (now at 1.0101) cannot be ruled out, as long as resistance at 1.0169 holds, recent decline should extend marginally towards chart support at 1.0011, however, as this move is losing downward momentum, suggesting sharp fall below there would not be repeated and reckon possible profit-taking would take place ahead of psychological support at 1.0000 and bring rebound later.
In view of the above analysis, we are venturing long on next decline. Above resistance at 1.0169 would suggest a temporary low is possibly formed and gain to the Ichimoku cloud bottom (now at 1.0201) but break of 1.0230-39 (previous resistance and current level of the Ichimoku cloud top) is needed to confirm.