| Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 21 10 15:25 GMT |
| EUR/USD – 1.3128 Most recent candlesticks pattern : N/A Trend : Near term down Tenkan-Sen level :1.3159 Kijun-Sen level :1.3148 Ichimoku cloud top :1.3242 Ichimoku cloud bottom :1.3191 Original strategy : Sell at 1.3240, Target: 1.3120, Stop: 1.3275 New strategy : Sell at 1.3240, Target: 1.3120, Stop: 1.3275 Although the single currency met renewed selling interest below intra-day resistance at 1.3202 and has retreated, break of indicated minor support at 1.3110/15 is needed to to signal the rebound from 1.3094 (yesterday’s low) has ended there and bring retest of this level, below would confirm the decline from 1.3500 top has resumed and extend weakness to previous support at 1.3060 but reckon psychological support at 1.3000 would hold from here. If said minor support continues to hold, then further consolidation would take place and another corrective bounce cannot be ruled out but 1.3249-58 (38.2% Fibonacci retracement of 1.3500 to 1.3094 and 61.8% Fibonacci retracement of 1.3360 to 1.3094) should attract renewed selling interest and bring another decline later. In view of this, we are still looking to sell euro on recovery. Only above 1.3295/00 (50% Fibonacci retracement of 1.3500 to 1.3094) would defer and risk stronger bounce to 1.3345 (61.8% Fibonacci |
| Candlesticks and Ichimoku Intraday | Written by Action Forex | Dec 21 10 15:25 GMT |
| EUR/USD – 1.3128 Most recent candlesticks pattern : N/A Trend : Near term down Tenkan-Sen level :1.3159 Kijun-Sen level :1.3148 Ichimoku cloud top :1.3242 Ichimoku cloud bottom :1.3191 Original strategy : Sell at 1.3240, Target: 1.3120, Stop: 1.3275 New strategy : Sell at 1.3240, Target: 1.3120, Stop: 1.3275 Although the single currency met renewed selling interest below intra-day resistance at 1.3202 and has retreated, break of indicated minor support at 1.3110/15 is needed to to signal the rebound from 1.3094 (yesterday’s low) has ended there and bring retest of this level, below would confirm the decline from 1.3500 top has resumed and extend weakness to previous support at 1.3060 but reckon psychological support at 1.3000 would hold from here. If said minor support continues to hold, then further consolidation would take place and another corrective bounce cannot be ruled out but 1.3249-58 (38.2% Fibonacci retracement of 1.3500 to 1.3094 and 61.8% Fibonacci retracement of 1.3360 to 1.3094) should attract renewed selling interest and bring another decline later. In view of this, we are still looking to sell euro on recovery. Only above 1.3295/00 (50% Fibonacci retracement of 1.3500 to 1.3094) would defer and risk stronger bounce to 1.3345 (61.8% Fibonacci |
EUR/USD – 1.3128
Most recent candlesticks pattern : N/A
Trend : Near term down
Tenkan-Sen level :1.3159
Kijun-Sen level :1.3148
Ichimoku cloud top :1.3242
Ichimoku cloud bottom :1.3191
Original strategy :
Sell at 1.3240, Target: 1.3120, Stop: 1.3275
New strategy :
Sell at 1.3240, Target: 1.3120, Stop: 1.3275
Although the single currency met renewed selling interest below intra-day resistance at 1.3202 and has retreated, break of indicated minor support at 1.3110/15 is needed to to signal the rebound from 1.3094 (yesterday’s low) has ended there and bring retest of this level, below would confirm the decline from
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