EUR/USD – 1.1222
Most recent candlesticks pattern  : N/A
Trend                     : Up
Tenkan-Sen level             : 1.1240
Kijun-Sen level                 : 1.1240
Ichimoku cloud top            : 1.1206
Ichimoku cloud bottom     : 1.1163
New strategy :
Stand aside
Position : –
Target :Â –
Stop : –
Although the single currency has maintained a firm undertone after recent rally and near term bullishness remains for recent upmove to extend gain to 1.1260-65, reckon upside would be limited to 1.1280-85 (61.8% projection of 1.0839-1.1172 measuring from 1.1076) and loss of near term upward momentum should prevent sharp move beyond 1.1300-10, risk from there is seen for a retreat later.Â
In view of this, would not chase this rise here and would be prudent to stand aside in the meantime. Below 1.1185-90 would bring pullback towards support at 1.1161 but break there is needed to signal top is formed, bring retracement of recent rise to 1.1125-30 first.Â
