HomeTrade IdeasCandlesticks IntradayTrade Idea : EUR/USD - Sell at 1.1755

Trade Idea : EUR/USD – Sell at 1.1755

EUR/USD – 1.1733

Most recent candlesticks pattern   : N/A

Trend                      : Sideways

Tenkan-Sen level              : 1.1736

Kijun-Sen level                  : 1.1728

Ichimoku cloud top             : 1.1798

Ichimoku cloud bottom      : 1.1788

Original strategy  :

Sell at 1.1755, Target: 1.1655, Stop: 1.1790

Position : –

Target :  –

Stop : –

New strategy  :

Sell at 1.1755, Target: 1.1655, Stop: 1.1790

Position : –

Target :  –

Stop : –

Euro’s selloff after meeting renewed selling interest at 1.1847 signals the erratic fall from 1.1910 top is still in progress and mild downside bias remains for further weakness to 1.1640-50 (50% Fibonacci retracement of 1.1370-1.1910 and previous support), below there would encourage for subsequent decline towards 1.1600-10 which is likely to hold from here due to near term oversold condition.

In view of this, we are looking to sell euro on recovery as 1.1755-60 should limit upside and bring another decline later. Above 1.1790-95 would abort and risk a stronger rebound to 1.1820 but price should falter below said resistance at 1.1847.

Featured Analysis

Learn Forex Trading