EUR/USD – 1.1186
Most recent candlesticks pattern  : N/A
Trend                     : Up
Tenkan-Sen level             : 1.1195
Kijun-Sen level                 : 1.1161
Ichimoku cloud top            : 1.1124
Ichimoku cloud bottom     : 1.1113
New strategy :
Stand aside
Position : –
Target :Â –
Stop : –
As the single currency has eased after rising to 1.1212 last week, suggesting consolidation below this level would be seen and pullback to the Kijun-Sen (now at 1.1161) is likely, below there would bring minor correction towards the upper Kumo (now at 1.1124, however, reckon downside would be limited to 1.1100 and bring another rise later, above said resistance would extend gain to 1.1240-45 (50% projection of 1.0839-1.1172 measuring from 1.1076) but loss of momentum should limit upside and reckon 1.1280-85 (61.8% projection) would hold from here, risk from there is seen for a retreat later.Â
In view of this, would not chase this rise here and would be prudent to stand aside in the meantime. Below the the lower Kumo (now at 1.1113) would suggest top is possibly formed, risk correction to 1.1076 support first, however, break there is needed to add credence to this view.Â
