This is an update to the short positions from the previous post.
Price has been trading lower after squaring off some position for profit taking. Nevertheless, still looking for opportunities to add some short positions.
Has shifted the stop loss level lower to 1.2500 level.
Looking forward:
Fundamental:
In short, nothing encouraging from the EU.
Technical (Ichimoku):
Tenkan-sen and kijun-sen has been expanding (price acceleration, gap between the 2 lines), price consolidation is anticipated at the white rectangle box as shown in the chart.
The Kumo cloud is getting thicker. Such cloud provide good resistance to the price action below. Similarly, should the price action penetrated above the thick Kumo cloud, followed by the chikou span penetrating above the kumo cloud, it will form good support to the price itself then.
Strategy (Ichimoku) ideas.
Looking to add short position between 1.2250 - 1.2350, or when price trades near kijun-sen.
Stop loss level could be adjusted to 1.2450 then.
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