USD/CHF - 1.1488

Most recent candlesticks pattern : N/A Trend : Up

Tenkan-Sen level :1.1500 Kijun-Sen level :1.1400 Ichimoku cloud top :1.1353 Ichimoku cloud bottom :1.1300

New strategy :

Buy at 1.1435, Target: 1.1535, Stop: 1.1385

The greenback rallied after finding decent demand right at the Ichimoku cloud bottom yesterday and resumed recent upmove to a high of 1.1533 this morning, however, as price has retreated from there, suggesting minor consolidation would be seen and retracement to 1.1430/35 (approx. 38.2% Fibonacci retracement of 1.1268 to 1.1533) cannot be ruled out, however, the Kijun-Sen (now at 1.1400) should hold, bring another rise later. Above said resistance would extend upmove to 1.1558 (1.236 times projection of 1.0732 to 1.1245 measuring from 1.0924) but 1.1600 should hold on first testing.

In view of this, buy on pullback. Only below 1.1385 would risk retracement to the Ichimoku cloud top (now at 1.1353) but the lower Kumo (now at 1.1300) should continue to hold.