Day trade
Trade view / 14 June 2016 at 5:50 GMT

EURUSD setback finds buyers at key average

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

A sharp turn in sentiment ended a sequence of two down days and took EURUSD back to the 13 Day Moving Average in Asian trading. That point was not clearly breached – which is a concern – but most signals remain cautiously optimistic.

Management and risk description

A move above 1.1304 means the stop can be raised to break even.


Entry: Buy in around 1.1280/85 area and any dip to 1.1263.

Stop: 1.1232 offered

Target: 1.1304, 1.1323 or even 1.1355

Time horizon: Today, 1600 GMT

Above average
Above Average
 Sharp turn
Sharp Turn
 Long term
Long Term
 Source: All charts from CQG

— Edited by Adam Courtenay

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assi assi
Morning Alan, do you think GBPUSD long from this levels....?
assi assi
or short EURGBP...?
AlanCollins AlanCollins
Have a negative bias towards sterling at the moment. Risk will consistently be the downside until the referendum is over. We do have a EURGBP call on Saxos TradeMaker FYG
fxtime fxtime
Agree Alan.
fxtime fxtime
Also suspect contrary to the view that the cable will collapse on a leave vote that we might bizarrely get a relief rally that a decision has been made. Initially my suspicion is a grind down until the vote then a relief rally which if is remain will be especially strong or minor if the vote is leave. However the underlying trend is down anyway so even a strong relief rally will become an opportunity to fade. Hopefully I am similar to your good self?
AlanCollins AlanCollins
Not sure how far I'm comfortable looking at the moment tbh. Certainly favour a relief bounce but the extent of such a move depends on the result of the vote. Brexit would have massive aftermath, political in the main, and so selling would begin sooner and lower. 2 months ago felt sure we'd stay but ancedotally things appear to be a lot different. Remain campaign has played its hand badly and annoyed a lot of voters. (even outvoted in my own house now!)
fxtime fxtime
LOL...I have been outvoted for years in my home LOL.


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