EUR/USD – 1.0735
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level : 1.0725
Kijun-Sen level : 1.0680
Ichimoku cloud top : 1.0640
Ichimoku cloud bottom : 1.0624
Original strategy :
Buy at 1.0675, Target: 1.0775, Stop: 1.0640
Position : –
Target : –
Stop : –
New strategy :
Buy at 1.0675, Target: 1.0775, Stop: 1.0640
Position : –
Target : –
Stop : –
As the single currency found renewed buying interest at 1.0600 yesterday and has rallied, reviving our bullishness for recent erratic upmove from 1.0493 low to extend further gain to 1.0755, break there would encourage for headway to 1.0775-90 but reckon resistance at 1.0799 would limit upside and price should falter well below resistance at 1.0829, bring retreat later.
In view of this, would not chase this rise here and we are looking to buy euro on pullback as the Kijun-Sen (now at 1.0677) should limit downside. Below the upper Kumo (now at 1.0657) would signal top is formed, bring weakness to 1.0620-25 but said support at 1.0600 should remain intact.
