Trade Idea: EUR/USD - Stand aside

EUR/USD - 1.3308

Most recent candlesticks pattern : N/A
Trend : Sideways

Tenkan-Sen level : 1.3268
Kijun-Sen level : 1.3266
Ichimoku cloud top : 1.3440
Ichimoku cloud bottom : 1.3333

New strategy :

Stand aside

As the single currency has continued to edge higher as suggested in our previous update, suggesting temporary low has possibly been formed at 1.3114 earlier this week and a sustained breach of Ichimoku cloud bottom (now at 1.3333) would bring stronger rebound but only break of resistance area at 1.3417-22 would confirm and extend gain to the upper Kumo (now at 1.3440), then towards 1.3490/00.

On the downside, below intra-day support at 1.3223 would revive bearishness but only break of 1.3180/85 would signal rebound from 1.3114 is over, then retest of this level would follow.

As near term outlook is still mixed, stand aside for now.