( From ActionForex.Com )
EUR/USD – 1.3732
Most recent candlesticks pattern : N/A
Trend : Near term up
Tenkan-Sen level :1.3698
Kijun-Sen level :1.3698
Ichimoku cloud top :1.3669
Ichimoku cloud bottom :1.3631
Original strategy :
Buy at 1.3640, Target: 1.3740, Stop: 1.3605
New strategy :
Buy at 1.3640, Target: 1.3740, Stop: 1.3605
Outlook remains supportive for recent upmove to resume after consolidation and break of intra-day resistance at 1.3757 would extend recent upmove from 1.2860 low towards 1.3790/00, however, loss of upward momentum should prevent sharp move beyond 1.3820/30 and 1.3850 should hold, bring correction later.
In view of this, we are still looking to buy euro on pullback as 1.3631-36 (current level of the Ichimoku cloud bottom and intra-day support) should attract renewed buying interest and bring such an upmove. Only below support at 1.3573 would signal top has been formed and risk correction to 1.3540.
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Candlesticks Intraday Trade Ideas Update Schedule (GMT):
1st Update: 0630 - 0700; 2nd Update: 0930 - 1000; 3rd Update: 1230 - 1300; 4th Update: 1500 - 1530
Pairs Covered: EUR/USD, USD/JPY, GBP/USD, USD/CHF
Elliott Wave Daily Trade Ideas Update Schedule (GMT):
AUD/USD, EUR/JPY: 0800 - 0830; EUR/GBP, USD/CAD: 1330 - 1400
Source link: http://www.actionforex.com/trading-signals/candlesticks-and-ichimoku-intraday/trade-idea-wrap-up:-eur%10usd-%e2%80%93-buy-at-1.3640-20110127131946/
