EUR/USD – 1.1381
Original strategy :
Buy at 1.1290, Target: 1.1390, Stop: 1.1255
Position : –
Target : –
Stop : –
New strategy :
Buy at 1.1355, Target: 1.1455, Stop: 1.1320
Position : –
Target : –
Stop : –
Current rebound suggests low has been formed at 1.1312 yesterday and consolidation with upside bias is seen for gain to 1.1400-10, however, break there is needed to signal the pullback from 1.1446 (last week’s high) has ended and bring subsequent retest of this level, break there would confirm recent upmove has resumed for headway to 1.1475-80 but price should falter below 1.1500.
In view of this, we are looking to buy euro on dips but one should exit on subsequent rally. Below 1.1325-30 would abort and signal an intra-day top is formed, risk test of said support at 1.1312, then 1.1292 (previous support as well as 50% Fibonacci retracement of 1.1139-1.1446).
