EUR/USD – 1.1945
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.1930
Kijun-Sen level : 1.1896
Ichimoku cloud top : 1.1845
Ichimoku cloud bottom : 1.1798
Original strategy :
Buy at 1.1780, Target: 1.1880, Stop: 1.1745
Position : –
Target : –
Stop : –
New strategy :
Buy at 1.1870, Target: 1.1990, Stop: 1.1835
Position : –
Target : –
Stop : –
As the single currency has surged again after last week’s rally above resistance at 1.1861, adding credence to our bullish view that recent upmove has resumed and upside bias remains for the rise from 1.1554 low to extend gain to 1.1950-60, then 1.1980, however, reckon psychological level at 1.2000 would limit upside, risk from there has increased for a retreat to take place later.
In view of this, we are looking to buy euro on pullback as said previous resistance at 1.1861 should turn into support and contain downside, bring such rise. Below minor support at 1.1837 would defer and suggest a temporary top is possibly formed, bring correction of recent rise to 1.1800-05 first.
