EUR/USD – 1.1202
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level : 1.1185
Kijun-Sen level : 1.1174
Ichimoku cloud top : 1.1160
Ichimoku cloud bottom : 1.1147
Original strategy :
Sell at 1.1210, Target: 1.1110, Stop: 1.1245
Position : –
Target : –
Stop : –
New strategy :
Stand aside
Position : –
Target : –
Stop : –
The single currency has surged again in NY morning, suggesting near term upside risk remains for the rebound from this week’s low of 1.1119 to extend gain to 1.1213 resistance, then towards 1.1228-30 ((61.8% Fibonacci retracement of 1.1296-1.1119), however, reckon upside would e limited to 1.1260-70 and price should falter well below resistance at 1.1296, bring retreat next week.
In view of this, would not chase this rise here and would be prudent to stand aside for now. Below the Kijun-Sen (now art 1.1174) would bring weakness towards 1.1139 support but break there is needed to revive bearishness and signal an intra-day top is formed, bring retest of 1.1119.
