The market failed to build upon the Bullish Morning Star pattern that ended last week yesterday. In fact, the negative reaction to Friday’s gains took EURUSD back to test the 13 day line and Friday’s Marabuzo line. Those points held, on a closing basis and so, despite net losses, our intraday technical studies are assessed as mildly positive.
We look to Buy in 1.1630/35 area and any 1.1600 dip
Stop is 1.1570 offered
Targets - 1.1656, 1.1685 or even twds 1.1720.
Closes 4pm London time