The euro is lower and Italian bond yields are up over 45 basis points from last week's levels as Italy's new, populist leaders challenge European Union policy on debt and migration.
Day trade
Trade view / 14 September 2016 at 6:04 GMT

EURGBP breaks key average, pointing higher

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

The capping of demand for EURGBP over the previous three days at the 13 day moving average has proved to be temporary.

Instead of extending Monday’s setback from that point, renewed sterling weakness drove the cross higher.

This demand took EURGBP to test the developing trend of lower daily highs. That level held, on a closing basis, to dilute positive studies to a degree.

All the same, breaking the 13 DMA should prove positive for price movements today.

Management and risk description

A move to 0.8535 means the stop can be raised to break even.


Entry: Buy in at 0.8503/08 area and any dip to 0.8493

Stop: 0.8463 offered

Target: 0.8535 and 0.8552

Time horizon: Intraday, ending 1600 London time

Testing the trend
Testing Trend
Buyers return Buyers Return

Source: All charts, CQG

— Edited by Adam Courtenay

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Non-independent investment research disclaimer applies. Read more
AlanCollins AlanCollins
First target exceeded so stop should be break even or, preferably, .8519
Andrei14 Andrei14
good job


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