EUR/USD – 1.2063
Most recent candlesticks pattern  : N/A
Trend                     : Up
Tenkan-Sen level             : 1.2056
Kijun-Sen level                 : 1.2004
Ichimoku cloud top            : 1.1926
Ichimoku cloud bottom     : 1.1909
New strategy :
Buy at 1.1985, Target: 1.2090, Stop: 1.1950
Position : –
Target :Â –
Stop : –
Although the single currency has surged again after breaking above previous resistance at 1.2070 and bullishness remains for recent upmove to extend gain to 1.2100, loss of upward momentum should prevent sharp move beyond 1.2130-40 and reckon 1.2150-55 (61.8% projection of 1.1119-1.1910 measuring from 1.1662) would limit upside, price should falter below 1.2175-80, bring retreat later.Â
In view of this, would not chase this rise here and would be prudent to buy euro on subsequent pullback as support at 1.1980-84 should limit downside and bring another upmove later. Below 1.1950 (previous resistance turned support) would signal a temporary top is formed instead bring weakness to 1.1925-30 first.Â
