EUR/USD - 1.2675

Most recent candlesticks pattern : N/A Trend : Down

Tenkan-Sen level :1.2649 Kijun-Sen level :1.2672 Ichimoku cloud top :1.2850 Ichimoku cloud bottom :1.2667

Original strategy :

Sell at 1.2790, Target: 1.2690, Stop: 1.2840

New strategy :

Sell at 1.2750, Target: 1.2670, Stop: 1.2800

As euro has continued to move higher after holding above yesterday's low at 1.2605, suggesting further consolidation would be seen and although recovery to 1.2740-50 cannot be ruled out, reckon renewed selling interest would emerge there and 1.2790/95 (approx. 38.2% Fibonacci retracement of 1.3095 to 1.2605) should hold, bring another decline later. Break of 1.2605 would signal decline has resumed and extend weakness to 1.2550/55 but reckon support at 1.2510 would hold from here.

In view of this, we are still looking to sell on further rise. Above 1.2800 would risk test of the Ichimoku cloud top (now at 1.2850).