EURUSD building a platform for gains
Against a background of positive weekly signals for sentiment, yesterday was the fourth day in a row that saw buying interest at the 13/100 day moving average area. This time that demand was translated into significant, and sustained, upside. Price action remains within last Friday’s parameters, and the highs were not entirely held. These factors dilute positive signals to a degree but the failure to break lower is, in our assessment, building a platform for gains.
Management and risk description
A move to 1.1265 means the stop can be raised to break even.
Entry: 1.1235/40 area.
Stop: 1.1198 offered.
Target: 1.1265, 1.1286 or even 1.1328.
Time horizon: intraday, ending London 4pm.
– Edited by Gayle Bryant