Kim Cramer Larsson
Areas covered in this webinar by Saxo Bank technical analyst Kim Cramer Larsson include EURUSD, USDJPY, GBPUSD, EURGBP, gold, silver, S&P 500, the Nasdaq, the Dax, the FTSE and the Dow Jones.
Day trade
Trade view / 12 January 2017 at 8:05 GMT

Bullish rejection of EURUSD levels below average

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: EURUSD
Price target: 1.0688
Market price: 1.0629

Tuesday’s upside rejection extended yesterday. But although later trading saw the market spike to five-day lows, those extremes beneath the 13 day moving average were firmly rejected. 

Although the resulting upside failed at similar levels to the previous day and last week, the move was enough to ensure that our technical studies are positive.

Management and risk description

A move to 1.0654 means the stop can be raised to break even or better.


Entry: buy in 1.0625/30 area and any 1.0594 dip.

Stop: 1.0564 offered.

Target: 1.0654 and 1.0688.

Time horizon: intraday, ending 1600 GMT.

Rejecting average:
Rejecting Average

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Source: CQG

Lows rejected:
Lows Rejected
Source: CQG

Long Term
Source: CQG

— Edited by Michael McKenna

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Non-independent investment research disclaimer applies. Read more
Shamnighty Shamnighty
Hi Alan

Is this trade idea still valid? Thx!
AlanCollins AlanCollins
No Shamnighty, already seen first target and the fact that prices didn't hold around there, added to the overbought situation means the immediate outlook is not clear from current levels
AlexF AlexF
Hi Alan just took a short position at 1.0672 whats ur reco for today in term of short target ?
AlexF AlexF
have 1.0635 as TP or u see a bigger move ?
AlanCollins AlanCollins
TBH I wouldn't have gone short. Only take 1 possy a day per ccy pair and although some profit taking is being seen (so congrats on being with it) our signals remain posiitve. However think there is potential to 1.0627 but, personally, I'd be very light on my toes when taking a counter trend view. BOL


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