EUR/USD – 1.1155
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 1.1148
Kijun-Sen level : 1.1177
Ichimoku cloud top : 1.1241
Ichimoku cloud bottom : 1.1231
Original strategy :
Sell at 1.1190, Target: 1.1090, Stop: 1.1225
Position : –
Target : –
Stop : –
New strategy :
Sell at 1.1190, Target: 1.1090, Stop: 1.1225
Position : –
Target : –
Stop : –
This week’s selloff from 1.1296 signals top has been formed there and consolidation with downside bias is seen for this move to bring a strong retracement of recent upmove, hence further fall to previous support at 1.1109 would be seen, however, break there is needed to retain bearishness and extend further weakness to 1.1076 and possibly towards 1.1050 but price should stay above previous resistance at 1.1025.
In view of this, we are looking to sell euro on recovery as 1.1185-90 should limit upside and bring another decline. Above 1.1225-30 would defer and risk a stronger rebound to 1.1250 but price should falter well below said resistance at 1.1296, bring another decline later.
