USD/CHF - 1.1018

Most recent candlesticks pattern    : N/ATrend                                         : Sideways

Tenkan-Sen level                        :1.1037Kijun-Sen level                            :1.1083Ichimoku cloud top                     :1.1133Ichimoku cloud bottom                 :1.1132

Original strategy : 

Bought at 1.1030, Target: 1.1180, Stop: 1.0965

New strategy : 

Hold long entered at 1.1030, Target: 1.1100, Stop: 1.0985

Despite intra-day fall to 1.0990, as dollar has rebounded from there, suggesting as long as this level holds, consolidation with upside bias would be seen for test of the Kijun-Sen (now at 1.1083, however, only break of the Ichimoku cloud area (now at 1.1132-33) would signal the correction from 1.1245 has ended and extend gain towards 1.1184. Looking ahead, above this resistance would indicate upmove has resumed for a retest of recent high at 1.1245 later this week.

In view of the above analysis, we are holding on to our long position entered at 1.1030. Below said support at 1.0990 would risk stronger correction to 1.0925-28 (previous resistance and 61.8% Fibonacci retracement of 1.0732 to 1.1245).

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