EUR/USD – 1.0940

Most recent candlesticks pattern   : N/A

Trend                      : Near term up

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Tenkan-Sen level              : 1.0906

Kijun-Sen level                  : 1.0888

Ichimoku cloud top             : 1.0832

Ichimoku cloud bottom      : 1.0809

New strategy  :

Buy at 1.0900, Target: 1.1000, Stop: 1.0865

Position : –

Target :  –

Stop : –

Current break of yesterday’s high at 1.09367 signals recent upmove has resumed and bullishness remains for the erratic upmove from 1.0340 low to extend further gain 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.

In view of this, would not chase this rise here and would be prudent to buy euro on pullback as 1.0900 should limit downside. Below 1.0870 would defer and suggest an intra-day top is formed, risk weakness towards support at 1.0851 but another previous support at 1.0821 should hold from here.

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