Latest Trade Ideas

Candlesticks Intraday

Trade Idea Wrap-up: EUR/USD - Stand aside

Typography

EUR/USD - 1.1954


Most recent candlesticks pattern   : N/A

Trend                      : Up


Tenkan-Sen level              : 1.1952

Kijun-Sen level                  : 1.1960

Ichimoku cloud top             : 1.2011

Ichimoku cloud bottom      : 1.2006


New strategy  :

Stand aside

Position : -

Target :  -

Stop : -


As the single currency has fallen again after brief recovery, suggesting the decline from last week’s high of 1.2093 is still in progress for retracement of recent rise, hence weakness to 1.1900 cannot be rule out, however, loss of near term downward momentum should prevent sharp fall below previous support at 1.1868 and price should stay well above another previous support at 1.1823, bring rebound later.

In view of this, would not chase this fall here and would be prudent to stand aside in the meantime. Above resistance at 1.1978 would bring recovery to 1.2000, however, reckon upside would be limited to resistance at 1.2030, bring another decline.