EURUSD bulls return to dominate this week
A sequence of three down weeks ended over the last five days. Buyers emerged above June’s low, and near a 62% correction point, for a second week in a row and this time it translated into more significant demand. In fact the resulting improvement, reversed three weeks of net losses, reached the mid-point of the weekly Keltner channel and traded comfortably through the 13/200 day moving average area.
Management and risk description
Entry: buy in 1.1165/75 area and any dip to 1.1124.
Stop: 1.1022 offered.
Target: 1.1235, 1.1281 or even 1.1426.
Time horizon: ending August 5, 1400 CET
Create your own charts with SaxoTraderGO click here to learn moreSource: CQG
— Edited by Clemens Bomsdorf
Non-independent investment research disclaimer applies. Read more