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Day trade
Trade view / 18 August 2016 at 6:02 GMT

EURUSD: Limited reaction points to gains

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

Price action in EURUSD was minimal yesterday as the market consolidated after three consecutive up days. The market was unable to extend demand or to attract significant profit taking and so EURUSD traded tightly within the preceding day’s parameters but it is the weakness of the pullback. Sentiment is now looking positive.

Management and risk description

A move to 1.1329 means the stop can be moved to 1.1271 (buy dip cancelled) and at 1.1347 the stop can be raised to break even.

Parameters

Entry: Buy in 1.1303/08 area and any dip to 1.1271.

Stop: 1.1242 offered.

Target: 1.1329, 1.1347 and 1.1369.

Time horizon: Intraday, ends London 4pm.

Marabuzo line supports

Marabuzo Line Supports
 Limited setback
Limited Setback
 Long term
Long Term
Source: All charts from CQG

— Edited by Adam Courtenay

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Non-independent investment research disclaimer applies. Read more
18 August
Vakas Vakas
SL is huge as compared to profit targets on this trade

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