EUR/USD – 1.1948
Most recent candlesticks pattern : N/A
Trend : Up
Tenkan-Sen level : 1.1961
Kijun-Sen level : 1.2004
Ichimoku cloud top : 1.1977
Ichimoku cloud bottom : 1.1896
Original strategy :
Bought at 1.1965, Target: 1.2065, Stop: 1.1930
Position : – Long at 1.1965
Target : – 1.2065
Stop : – 1.1930
New strategy :
Hold long entered at 1.1965, Target: 1.2065, Stop: 1.1930
Position : – Long at 1.1965
Target : – 1.2065
Stop : – 1.1930
Although the greenback has remained under pressure after retreating quite sharply from yesterday’s high of 1.2070 and further consolidation below this level would be seen, reckon downside would be limited and bring rebound to the Kijun-Sen (now at 1.2004), break there would bring test of 1.2040 but break there is needed to signal the retreat from 1.2070 has ended and bring retest of this level.
In view of this, we are holding on to our long position entered at 1.1965. Below 1.1930 would risk test of support at 1.1917, break there would signal a temporary top has been formed at 1.2070 yesterday, bring retracement of recent rise to 1.1890-95 but support at 1.1864 should remain intact.
