Price action rallied since establishing the position on 18 January, it reached its top at 1.0100.
Technical Analysis (Ichimoku Charting)
After rallying to its recent top in the last few periods, price action retraced downwards to the current level. Tenkan sen has also cut below the kijun-sen. Chikou span has now cut the tenkan sen while maintaining above the kijun-sen. All remain above the ichimoku cloud. The forward cloud is getting thicker for the next few periods.
Trading Strategies (Ichimoku Trading)
With price action above the ichimoku cloud, the immediate short term to mid term view remains bullish. While the immediate sign from tenkan sen cutting below kijun sen represent a change in trend, this change probably is view as a retrace from the recent high established by the price itself.
Long position added with stop loss level below the cloud.
Any real shorts, consider only when below 9940.
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