EUR/USD – 1.3890
Most recent candlesticks pattern : N/A
Trend : Sideways
Tenkan-Sen level :1.3937
Kijun-Sen level :1.3943
Ichimoku cloud top :1.3871
Ichimoku cloud bottom :1.3843
Original strategy :
Buy at 1.3850, Target: 1.3950, Stop: 1.3805
New strategy :
Buy at 1.3850, Target: 1.3950, Stop: 1.3805
As the single currency has extended intra-day decline from 1.4012, suggesting near term downside risk has increased for test of the upper Kumo (now at 1.3871), however, reckon downside would be limited to 1.3840-43 (61.8% Fibonacci retracement of 1.3734 to 1.4012 and current level of the Ichimoku cloud bottom), however, reckon support at 1.3807 would hold, bring rebound later this week. Above 1.3937-43 (current level of the Tenkan-Sen and Kijun-Sen) would suggest retreat from 1.4012 has ended and bring another test of this level, above there would extend upmove from 1.3734 to 1.4050/55 but price should stay below resistance at 1.4080.
0 comments:
Post a Comment