- EUR/USD shooting star Candlesticks on daily chart - Feb.7


Master Trader
Jan 11, 2011
The single currency resumed recent rise from 1.2860 to as high as 1.3862 last week, the subsequent retreat from there and the daily close below the flat ground Ichimoku cloud top suggest top has been formed there and consolidation with mild downside bias is seen for at least a correction of the rise from 1.2860 to 1.3500 and possibly to 1.3479 (confluence point of 61.8% Fibonacci retracement of 1.3243 to 1.3862 and 38.2% Fibonacci retracement of 1.2860 to 1.3862) and possibly test of the Kijun-Sen (now at 1.3368), however, downside should be limited to 1.3243 (previous support and also 61.8% Fibonacci retracement of 1.2860 to 1.3862) and the Ichimoku cloud bottom (now at 1.3209) should hold...Full Forex News at: