Candlesticks Intraday

Trade Idea : EUR/USD - Buy at 1.1355

Typography

EUR/USD - 1.1415


Most recent candlesticks pattern   : N/A

Trend                      : Near term up


Tenkan-Sen level              : 1.1417

Kijun-Sen level                  : 1.1379

Ichimoku cloud top             : 1.1344

Ichimoku cloud bottom      : 1.1341


Original strategy  :

Buy at 1.1355, Target: 1.1455, Stop: 1.1320

Position : -

Target :  -

Stop : -


New strategy  :

Buy at 1.1355, Target: 1.1455, Stop: 1.1320

Position : -

Target :  -

Stop : -


As the single currency staged a strong rebound after finding renewed buying interest at 1.1312, suggesting the pullback from last week’s high of 1.1446 has ended there and retest of this level would be seen, however, break there is needed to confirm recent upmove has resumed for headway to 1.1475-80 but price should falter below 1.1500.

In view of this, we are looking to buy euro on dips but one should exit on subsequent rally. Below 1.1325-30 would abort and signal the rebound from 1.1312 has ended, bring another test of this level, then 1.1292 (previous support as well as 50% Fibonacci retracement of 1.1139-1.1446).

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Author: Action Forex
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