USD/CHF - 0.9224
Original strategy :
Buy at 0.9190, Target: 0.9290, Stop: 0.9155
Position: -
Target: -
Stop:-
New strategy :
Buy at 0.9190, Target: 0.9290, Stop: 0.9155
Position: -
Target: -
Stop:-
Despite Friday’s retreat to 0.9116, as the greenback has rallied after holding above previous support at 0.9115, suggesting the rise from 0.9043 low is still in progress, however, as price has retreated from 0.9272, pullback to 0.9191-93 (intra-day low and current level of the Kijun-Sen) is likely, however, renewed buying interest should emerge there and bring another rise later. A break of said resistance at 0.9272 would extend the aforesaid upmove to 0.9300 but loss of near term momentum should prevent sharp move beyond previous resistance at 0.9335.
In view of this, we are looking to buy dollar on pullback. Below previous resistance at 0.9174 would suggest top is possibly formed and risk test of the Ichimoku cloud top (now at 0.9140) but break of said support at 0.9115 is needed to confirm.
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