Sat, Jan 28, 2023 @ 19:29 GMT
HomeTrade IdeasCandlesticks IntradayTrade Idea : EUR/USD - Sell at 1.1825

Trade Idea : EUR/USD – Sell at 1.1825

EUR/USD – 1.1743

Most recent candlesticks pattern   : N/A

Trend                      : Near term down

Tenkan-Sen level              : 1.1750

Kijun-Sen level                  : 1.1755

Ichimoku cloud top             : 1.1780

Ichimoku cloud bottom      : 1.1771

Original strategy  :

Sell at 1.1835, Target: 1.1735, Stop: 1.1870

Position : –

Target :  –

Stop : –

New strategy  :

Sell at 1.1825, Target: 1.1720, Stop: 1.1860

Position : –

Target :  –

Stop : –

As the single currency rebounded after falling to 1.1717 yesterday, suggesting consolidation above indicated key support at 1.1713 would be seen and corrective bounce to the lower Kumo (now at 1.1755) is likely, however, reckon upside would be limited to resistance at 1.1812-15 and bring another decline later, below said support at 1.1713-17 would extend recent fall from 1.1961 top to 1.1695-00, then towards 1.1660-70.

In view of this, we are looking to sell euro on further subsequent recovery as said resistance at 1.1815 should limit upside and bring another decline. Above 1.1845-50 would defer and suggest low is formed, bring a stronger rebound to 1.1875-80 first.

 

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