EUR/USD – 1.3606
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level :1.3627
Kijun-Sen level :1.3649
Ichimoku cloud top :1.3501
Ichimoku cloud bottom :1.3561
Original strategy :
Buy at 1.3550, Target: 1.3660, Stop: 1.3515
Position: -
Target: -
Stop:-
New strategy :
Buy at 1.3550, Target: 1.3660, Stop: 1.3515
Position: -
Target: -
Stop:-
Despite Friday’s late rally to 1.3711, lack of follow through buying and the subsequent retreat from there suggest a potential evening star pattern was formed on the hourly chart and near term downside risk is seen for retracement to Friday’s low of 1.3574 and possibly to the Ichimoku cloud bottom (now at 1.3561), however, reckon 1.3530-35 would limit downside and bring another upmove later. Above 1.3660-70 would bring a retest of 1.3711 but break of this last week’s high is needed to signal recent upmove has once again resumed and extend headway towards 1.3740-50, however, upside should be limited to 1.3775-80 and risk from there is seen for a correction to take place later.
In view of this, would be prudent to buy euro on further pullback. Only below 1.3500 would abort and signal a temporary top is formed, bring retracement of recent upmove to 1.3480 (previous resistance) and possibly 1.3450 but previous support at 1.3415 should remain intact, bring another rally later.
ไม่มีความคิดเห็น:
แสดงความคิดเห็น