EUR/USD – 1.0902
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.0909
Kijun-Sen level : 1.0904
Ichimoku cloud top : 1.0919
Ichimoku cloud bottom : 1.0886
New strategy :
Stand aside
Position : –
Target : –
Stop : –
Despite yesterday’s marginal rise to 1.0951, lack of follow through buying and the subsequent retreat to 1.0856 suggest consolidation below this level would be seen and below said support at 1.0856 would bring correction of recent rise to 1.0835-40 but reckon support at 1.0821 would hold from here, bring another rise later.
In view of this, would be prudent to stand aside for now. Only above said resistance at 1.0951 would extend recent upmove from 1.0340 low to 1.0975-80 and possibly towards 1.1000 which is likely to hold on first testing due to loss of momentum, risk from there is seen for a retreat later.
