JPMorgan, Wells Fargo, and Citi are all set to release earnings prior to the New York bell with Saxo Bank head of equity strategy Peter Garnry bullish on trading income, commercial banking, and – Trump permitting, of course – stock markets in general.
Day trade
Trade view / 09 August 2016 at 5:48 GMT

Asian demand confirms positive tone for EURGBP

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: EURGBP
Price target:
Market price:

There was limited movement in EURGBP for a second day in a row Monday, despite the most positive levels traded for four weeks being posted. But prices still consolidated comfortably above the key 13 day moving average.

This type of price action means immediate signals for sentiment cannot be strong, but demand in Asia has emphasised the underlying positive tone, as well as confirming our bullish weekly call published yesterday on these pages.

Management and risk description

A move to 0.8549 means the stop can be raised to breakeven.


Entry: Buy in 0.8525/0.82530 area and any dip to 0.8502.

Stop: 0.8469 offered.

Target: 0.8549 and 0.8568.

Time horizon: Intraday, ending 1600 London time (1500 GMT).

Asian demand
Asian Demand
 Modest setback
Modest Setback
 Long-term trend
Long Term
All charts: CQG. Create your own charts with SaxoTrader; click here to learn more.

For more on forex, click here.

— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
AlanCollins AlanCollins
Our first target has been met and the stop is now raised to breakeven with the buy dip strategy cancelled.
Charles Asmar Charles Asmar
Hi Alan, I am, short @ 0.8608 EURGBP should I keep this trade? What will be the target?
AlanCollins AlanCollins
Sorry. our call for clients in EURGBP this morning was bullish. Some profits taken and then closed at 1pm. Don't like shorts currently but with our 1 daily call (per ccy pair) closed I'll look again tomorrow.
AlanCollins AlanCollins
Should have mentioned also Charles that our EURGBP call for today was published on Saxo's Trademaker. Worth checking out that place too. Best of Luck


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