EUR/USD – 1.1866
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.1902
Kijun-Sen level : 1.1890
Ichimoku cloud top : 1.1858
Ichimoku cloud bottom : 1.1843
Original strategy :
Bought at 1.1865, Target: 1.1965, Stop: 1.1855
Position : – Long at 1.1865
Target : – 1.1965
Stop : – 1.1855
New strategy :
Hold long entered at 1.1865, Target: 1.1965, Stop: 1.1855
Position : – Long at 1.1865
Target : – 1.1965
Stop : – 1.1855
As the single currency found decent demand at 1.1809 yesterday and has staged a strong rebound, price broke above previous resistance at 1.1920, adding credence to our view that the pullback from 1.1961 has ended there, hence bullishness remains for a retest of this level, however, break there is needed to confirm recent upmove has resumed for headway to 1.1990-00 which is likely to hold from here.
In view of this, we are holding on to our long position entered at 1.1865. Below 1.1855-60 would abort and prolong consolidation and risk weakness to 1.1835-40, having said that, said support at 1.1809 should remain intact, bring rebound later.
