New strategy :
Sell at 1.3300, Target: 1.3200, Stop: 1.3335
Despite intra-day brief bounce to 1.3317, as the single currency met renewed selling interest there and has fallen again, suggesting the decline from last week's high of 1.3401 is still in progress and may extend further weakness to last week's low of 1.3233, then towards 1.3200-010, however, near term oversold condition should prevent sharp decline below previous chart support at 1.3188, risk from there is seen for a strong rebound later.
In view of this, we are looking to sell cable on recovery. Only above 1.3317-23 (said intra-day high and current level of the lower Kumo) would abort and signal an intra-day low is formed, bring test of 1.3343-45 (current level of the lower Kumo and yesterday's high).
IMOH, Clement I.
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