
USD/CHF - 1.0154
Most recent candlesticks pattern : N/A
Trend : Down
Tenkan-Sen level : 1.0127Kijun-Sen level : 1.0117Ichimoku cloud top : 1.0218Ichimoku cloud bottom : 1.0141
Original strategy
Buy at 1.0005, Target: 1.0165, Stop: 0.9945
New strategy
Buy at 1.0070, Target: 1.0220, Stop: 1.0005
Yesterday's stronger rebound on falling oil and stock prices suggests a temporary low has possibly been formed at 1.0033 earlier and consolidation with upside bias is seen but break of resistance at 1.0230 is needed to confirm this view and bring retracement of recent decline to 1.0275/80, however, reckon 1.0358-60 (38.2% Fibonacci retracement of 1.0885 to 1.0033 and previous resistance level) would hold from here.
In view of the above analysis, we are looking to buy euro on retreat. Only below 1.0011 chart support would extend recent decline towards 0.9980 but reckon 0.9924 (61.8% projection of 1.1026 to 1.0170 measuring from 1.0453) would hold from here.
Most recent candlesticks pattern : N/A
Trend : Down
Tenkan-Sen level : 1.0127Kijun-Sen level : 1.0117Ichimoku cloud top : 1.0218Ichimoku cloud bottom : 1.0141
Original strategy
Buy at 1.0005, Target: 1.0165, Stop: 0.9945
New strategy
Buy at 1.0070, Target: 1.0220, Stop: 1.0005
Yesterday's stronger rebound on falling oil and stock prices suggests a temporary low has possibly been formed at 1.0033 earlier and consolidation with upside bias is seen but break of resistance at 1.0230 is needed to confirm this view and bring retracement of recent decline to 1.0275/80, however, reckon 1.0358-60 (38.2% Fibonacci retracement of 1.0885 to 1.0033 and previous resistance level) would hold from here.
In view of the above analysis, we are looking to buy euro on retreat. Only below 1.0011 chart support would extend recent decline towards 0.9980 but reckon 0.9924 (61.8% projection of 1.1026 to 1.0170 measuring from 1.0453) would hold from here.
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