EUR/USD – 1.1193
Most recent candlesticks pattern : N/A
Trend : Up
Tenkan-Sen level : 1.1198
Kijun-Sen level : 1.1224
Ichimoku cloud top : 1.1251
Ichimoku cloud bottom : 1.1244
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Euro’s decline after faltering below indicated strong resistance at 1.1285 suggests top has possibly been formed there and further consolidation would be seen with downside bias for weakness to indicated support 1.1164, however, break there is needed to add credence to this view, bring further subsequent fall to 1.1145-50 and then towards 1.1120 but support at 1.1109 should hold from here.
In view of this, would not chase this fall here and would be prudent to stand aside in the meantime. Above 1.1235-40 would bring another bounce to 1.1270 but only break of said resistance at 1.1285 would revive bullishness and confirm recent upmove has resumed and extend further gain to previous chart resistance at 1.1300, break there would encourage for headway to 1.1340-45 and later towards chart point at 1.1366.
