Day trade
/
Buy
Trade view / 21 March 2017 at 7:03 GMT

EURGBP gains from average to continue

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: EURGBP
Price target: 0.8776
Market price: 0.8715
Background

Friday’s strong decline took EURGBP back to the 13-day moving average. It was the failure to break below that crucial level that undermined negative signals to the degree that this week’s outlook was considered unclear. The importance of the 13-day average though was proved by modest demand from that point on Monday, upside that has been extended in Asia. Caution is required until/unless the Marabuzo line from Mar 13 is breached on the topside, but the Asian move emphasises a renewed positive tone that we look to extend during Tuesday.

Management and risk description

A move to 0.8738 means the stop can be raised to break even.

Parameters

Entry: Buy in 0.8710/15 area and any dip to 0.8697.

Stop: 0.8675 offered.

Target: 0.8738, 0.8760 or even 0.8776.

Time horizon: Intraday, ending 1600 GMT.

Average platforms
Average Platforms
 Downside stalled
Downside Stalled
 Long term
Long Term
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— Edited by Susan McDonald


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2y
Lukas78 Lukas78
Hi Alan, is the trade still valid? Thanks, Lukas
2y
AlanCollins AlanCollins
yes. The stop is tight and is in the right place.
2y
Jazzy Jazzy
Noo sl hit
2y
FBT431 FBT431
Dear Alan, do you have signals for growth that pair still? Or it is a good time for out of deal? Thank!
2y
vyacheslav111 vyacheslav111
Hi, Alan! Your opinion on EURGBP now ?

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