2014.10.2109:26:00UTC+00Credit Suisse Enters Short Usd/chf

Credit Suisse has entered short USD/CHF (short-term) via filling a limit order at 0.945 with stop 0.9496, target 0.9325

Positioning Bias:

Short term trend: Bearish

Ichimoku analysis (4 Hour chart):

Tenkan-Sen level: 0.9438

Kijun-Sen level: 0.9457

Ichimoku cloud top: 0.9522

Ichimoku cloud bottom: 0.9578

USDCHF is facing strong resistance around 0.94896 (Oct 16^th high). Trend reversal can happen only above that level.

On the upper side break above will target 0.9560/0.9600.

Minor support is around 0.9400. Break of will target 0.9358 (Oct 15^th high)/0.9325.

Overall trend is weak. It is good to sell on rallies.

Recommendation: Sell USDCAD around 0.9450, SL 0.9496, Target 0.9325.