EUR/USD – 1.1906
Most recent candlesticks pattern : N/A
Trend : Up
Tenkan-Sen level : 1.1932
Kijun-Sen level : 1.1966
Ichimoku cloud top : 1.2008
Ichimoku cloud bottom : 1.1928
New strategy :
Stand aside
Position : –
Target : –
Stop : –
The single currency slipped again after yesterday’s sharp retreat from 1.2070, dampening our bullishness and suggesting top has been formed there, hence downside risk remains for retracement of the rise from 1.1662 and weakness to 1.1890-95 cannot be ruled out, however, reckon downside would be limited to 1.1864-66 (previous support and 50% Fibonacci retracement of 1.1662-1.2070) and price should stay above previous resistance at 1.1828, bring rebound later.
On the upside, whilst recovery to 1.1955-60 cannot be ruled out, reckon 1.1980-85 would limit upside and 1.2005-10 should hold, bring retreat later. Above 1.2035-40 would suggest the retreat from 1.2070 has ended, bring another rise towards this level but break there is needed to signal upmove has resumed for headway to 1.2100.
