EUR/USD – 1.1758
Most recent candlesticks pattern : N/A
Trend : Sideways
Tenkan-Sen level : 1.1758
Kijun-Sen level : 1.1776
Ichimoku cloud top : 1.1797
Ichimoku cloud bottom : 1.1775
Original strategy :
Bought at 1.1765, Target: 1.1865, Stop: 1.1730
Position : – Long at 1.1765
Target : – 1.1865
Stop : – 1.1730
New strategy :
Hold long entered at 1.1765, Target: 1.1865, Stop: 1.1730
Position : – Long at 1.1765
Target : – 1.1865
Stop : – 1.1730
As euro’s retreat from 1.1828 has kept price under pressure, suggesting caution our near term bullishness but as long as 1.1735-40 holds, mild upside bias remains for another rebound, above 1.1800 would bring test of said resistance at 1.1828, break there would extend the rise from last week’s low of 1.1662 to resistance at 1.1847, above there would provide confirmation the pullback from 1.1910 has ended and encourage for headway to 1.1870-80 but reckon said resistance at 1.1910 would hold from here.
In view of this, we are holding on to our long position entered at 1.1765. Only below 1.1725-30 would abort and suggest the rebound from 1.1662 has ended instead, risk weakness to 1.1695-00 first.
