USD/CHF - 0.9286
Original strategy :
Buy at 0.9195, Target: 0.9295, Stop: 0.9160
Position: -
Target: -
Stop:-
New strategy :
Buy at 0.9200, Target: 0.9310, Stop: 0.9165
Position: -
Target: -
Stop:-
Although current breach of previous resistance at 0.9272 confirms the rise from 0.9043 low is still in progress and further gain to 0.9300-10 is underway, near term overbought condition should limit upside to previous resistance at 0.9335 and reckon 0.9350-60 would hold from here, risk from there is seen for a retreat later.
In view of this, would not chase this move here and we prefer to buy dollar on pullback as the Ichimoku cloud bottom (now at 0.9193) should limit downside, bring another rise. Only below previous resistance at 0.9174 would suggest top is formed and risk retracement of the rise from 0.9043 to 0.9158 (another previous resistance, however, reckon 0.9130 would limit downside and support at 0.9115 would remain intact.
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