EUR/USD – 1.3241
 
Original strategy : 

Buy at 1.3135, Target: 1.3260, Stop: 1.3100

Position: -
Target:  -
Stop:- 

New strategy  :  

Buy at 1.3135, Target: 1.3260, Stop: 1.3100

Position: -
Target:  -
Stop:- 

Euro’s near term sideways trading is expected to continue and as long as resistance at 1.3293 (yesterday’s high) holds, risk of another corrective fall cannot be ruled out, however, renewed buying interest should emerge around 1.3130-35 (50% Fibonacci retracement of 1.2975-1.3293) and bring another rise later. A break of said resistance would extend recent upmove to 1.3335-40 (50% projection of 1.2975-1.3277 measuring from 1.3186), however, loss of near term upward momentum should prevent sharp move beyond 1.3370-75 (61.8% projection) and bring another strong pullback later.

In view of this, we are looking to buy euro on further corrective fall. Only below minor support at 1.3115 would abort and signal a temporary top is formed and risk correction to 1.3100 and then 1.3075/80 later.