EUR/USD – 1.1075
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.1040
Kijun-Sen level : 1.1027
Ichimoku cloud top : 1.0940
Ichimoku cloud bottom : 1.0911
Original strategy :
Buy at 1.1020, Target: 1.1120, Stop: 1.0985
Position : –
Target : –
Stop : –
New strategy :
Buy at 1.1020, Target: 1.1120, Stop: 1.0985
Position : –
Target : –
Stop : –
Euro has rallied and broke above previous resistance at 1.1025, confirming recent upmove has resumed and further gain to 1.1100 and possibly 1.1125-30 would be seen, however, near term overbought condition should limit upside to 1.1150 and reckon 1.1175-80 would hold from here, bring retreat later.
In view of this, we are looking to buy euro on pullback as previous resistance at 1.1025 should turn into support and contain euro’s downside, bring another upmove later. Below another previous resistance at 1.0990 would abort and suggest top is possibly formed, bring correction to 1.0965 support first.
