Trade Idea Update: USD/CHF – Stand aside

USD/CHF-9688

New strategy:

Stand aside

Despite trading-day rise to 0.9728 (only reached the destination indicated on the upside to 0.9725-100% projection of 0.9548 to 0.9685 measurement from 0.9588), price has retreated from it, suggesting consolidation with mild downside bias would be reviewed and fall to 0.9657 (downstream of the point in the Kijun-sen and the Ichimoku cloud up) is likely, however, during the lower Kokemäki (now at 0.9616) is needed to confirm up up and a test of yesterday's low at 0.9588.

On the upside and would entail a above resistance stronger retracement latest decline of 0.8 9758-60 (previous aid and 50% Fibonacci retracement of the 0.9972 to 0.9548).

When the near term are still mixed, stand aside in the meantime.

Trade idea: USD/CHF to sales at 0.9620

USD/CHF-9568

Latest candlesticks patterns: N/A
Trend                                    : Down

Tenkan-sen level: 0 9563
Kijun-sen level: 0.9573
Ichimoku cloud at the top: 0; 9645
Ichimoku cloud bottom: 0.9639

New strategy:

Sell to 0.9620, Target: 0.9540, Stop: 0.9655

Even if the greenback resumed later decreased steadily in morning price broke during previous support at 0.9555, lack of follow-up by selling the proposed consolidation would take place and recycling-0.9615/20 cannot be excluded, but count the Ichimoku cloud (now at 0.9639-45) would Cap upside and bring another depression later in 0.9546 would extend weakness vis-a-vis 0.9500/10, however, Oversold conditions should limit the downside to 0.9439 (100% projection of 0.9844 to 0.9555 measurement from 0.9728) and remedies at a later time.

In light of this, we look to sell the dollar's recovery; Only a persistent breach of the upper Kokemäki (now at 0.9645) proposes a temporary low formed possible and risking correction against 0.9700/05.