Against a background of bearish weekly signals for sentiment Monday’s price action did not provide clear direction. The market fluctuated around the important 13 day mvg avg with both initial demand and subsequent downside not held. This means that caution needs to be applied for Tuesday but, although there remains the concern of a Bearish Evening Star pattern in the background, Asian demand gives our immediate technical studies a positive bias.
We look to Buy in 1.1375/80 area and any 1.1350 dip
Stop is 1.1305 offered
Targets - 1.1396, 1.1412 and 1.1434
Closes 4pm London time