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).
