EUR/USD – 1.1868
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.1860
Kijun-Sen level : 1.1850
Ichimoku cloud top : 1.1894
Ichimoku cloud bottom : 1.1859
Original strategy :
Bought at 1.1864, stopped at 1.1835
Position : – Long at 1.1864
Target : –
Stop : – 1.1835
New strategy :
Buy at market level, Target: 1.1965, Stop: 1.1835
Position : –
Target : –
Stop : –
Although the single currency slipped again to 1.1809, as euro found renewed buying interest there and has staged another rebound, suggesting an intra-day low is formed there and consolidation with upside bias is seen for gain to 1.1895-00, however, break of indicated resistance at 1.1920 is needed to signal the pullback from 1.1961 has ended at 1.1817, bring further gain towards this level, break there would extend recent upmove to 1.1990-00 which is likely to hold from here.
In view of this, we are looking to buy euro again on dips. Below 1.1830-35 would risk retest of 1.1809 but only break there would signal the retreat from 1.1961 is still in progress for retracement of recent rise towards 1.1770 but price should stay well above support at 1.1736, bring rebound later.
