EURUSD: Limited reaction points to gains
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.
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
— Edited by Adam Courtenay
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