Trade Idea : USD/CHF - Buy at 1.0060

USD/CHF – 1.0155

Most recent candlesticks pattern : N/A

Trend                                    : Near term up

Tenkan-Sen level                  : 1.0160

Kijun-Sen level                    : 1.0163

Ichimoku cloud top                 : 1.0159

Ichimoku cloud bottom              : 1.0133

Original strategy :

Buy at 1.0080, Target: 1.0200, Stop: 1.0945

Position : –

Target :  –

Stop : –

New strategy  :

Buy at 1.0060, Target: 1.0180, Stop: 1.0025

Position : –

Target :  –

Stop : –

As the greenback has retreated after faltering below yesterday’s high of 1.0192, retaining our view that further consolidation below this level would be seen and pullback to 1.0120-30, then 1.0090-00 cannot be ruled out, however, reckon 1.0060-68 support would limit downside and bring another rise later, above said resistance at 1.0192 would extend recent upmove to 1.0210-15 (50% projection of 0.9831-1.0123 measuring from 1.0068), then towards 1.0245-50 (61.8% projection). 

In view of this, would not chase this rise here and we are looking to buy dollar on pullback as 1.0060-68 support should limit downside. Below 1.0030-35 would abort and signal top is formed instead, risk weakness to 1.0010-15 (50% Fibonacci retracement of 0.9831-1.0192), then towards support at 0.9994.

Trade Idea : USD/CHF - Buy at 1.0060