EUR/USD – 1.0793
Most recent candlesticks pattern  : N/A
Trend                     : Near term up
Tenkan-Sen level             : 1.0807
Kijun-Sen level                 : 1.0829
Ichimoku cloud top            : 1.0869
Ichimoku cloud bottom     : 1.0834
Original strategy :
Bought at 1.0800, Target: 1.0900, Stop: 1.0765
Position : – Long at 1.0800
Target :Â – 1.0900
Stop : – 1,0765
New strategy :
Hold long entered at 1.0800, Target: 1.0900, Stop: 1.0765
Position : – Long at 1.0800
Target :Â – 1.0900
Stop : – 1.0765
Although the single currency has remained under pressure after overnight selloff and near term downside risk remains for marginal weakness, as this move is viewed as retracement of recent upmove, reckon downside would be limited and bring rebound later, above 1.0825-30 would suggest and intra-day low is formed but break of 1.0845-50 is needed to add credence to this view, bring test of resistance at 1.0873 first. Only break of 1.0873 would signal the retreat from 1.0903 has ended, bring retest of this level, above there would extend recent rise to 1.0930-35 (61.8% Fibonacci retracement of 1.1300-1.0340) but loss of near term upward momentum should prevent sharp move beyond 1.0955-60 and price should falter below 1.0990-00.
In view of this, we are holding on to our long position entered at 1.0800. Only below support at 1.0760 would abort and signal top has been formed at 1.0906, bring retracement of recent upmove to 1.0730 but 1.0719 support should remain intact.Â
