EUR/USD - 1.2281

New strategy : 

Stand aside
 
Although the single currency fell again to an intra-day low of 1.2251 partly due to cross-selling against Japanese yen, as price has recovered after holding above support at 1.2242, suggesting consolidation would be seen and rebound to the Kijun-Sen (now at 1.2332) cannot be ruled out, however, only break of 1.2355 (intra-day resistance and the current level of the Ichimoku cloud bottom) would signal low has been formed and bring further gain to the Ichimoku cloud top (now at 1.2416).

Below 1.2242 would bring stronger retracement of recent rise to 1.2200 but reckon support at 1.2168 would hold and bring another rebound later.

As near term outlook is mixed, we are standing aside for the time being.