EUR/USD – 1.1763
Original strategy :
Bought at 1.1765, Target: 1.1865, Stop: 1.1730
Position : – Long at 1.1765
Target : – 1.1865
Stop : – 1.1730
New strategy :
Hold long entered at 1.1765, Target: 1.1865, Stop: 1.1730
Position : – Long at 1.1765
Target : – 1.1865
Stop : – 1.1730
As the single currency has retreated after meeting resistance at 1.1828 yesterday, suggesting consolidation below this level would be seen, however, reckon minor support at 1.1745 would limit downside and bring another rise later, above said resistance at 1.1828 would extend the rise from last week’s low of 1.1662 to resistance at 1.1847, break there would provide confirmation the pullback from 1.1910 has ended and encourage for headway to 1.1870-80 but reckon said resistance at 1.1910 would hold from here.
In view of this, we are holding on to our long position entered at 1.1765. Only below 1.1725-30 would abort and suggest the rebound from 1.1662 has ended instead, risk weakness to 1.1695-00 first.
