Despite making another marginal high of 1.4305 in European session, the single currency ran into heavy offers there and retreated sharply from there on profit-taking due to cross-unwinding in euro especially versus Japanese yen due to risk aversion and as price as dropped below, suggesting a temporary top is formed and correction to 1.4118 is likely, however, hold on first testing and bring rebound later.
In view of the above analysis, would exit long entered at 1.4175 and look to buy euro again on further decline. On the upside, recovery should be limited to 1.4240/50 and price should falter well below resistance at 1.4305 and bring further consolidation.
EUR/USD - 1.4169
Most recent candlesticks pattern : N/A
Trend : Up
Original strategy : Buy at 1.4175, Target: 1.4235, Stop: 1.4115
New strategy : Exit long entered at 1.4175
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