EURUSD – sharp bullish turn to dominate this week
A sequence of 4 down weeks ended over the last 5 days. Although the move higher was dominated by Friday’s post NFP gains, buying interest had already emerged above a 50% correction to the rise from Dec’s low. Higher highs on each of the last 4 days, a break above the 13-day line and an increasingly positive Keltner channel leaves sentiment positive.
Management and risk description
A move above 1.1448 means the stop can be raised to break even.
Entry: Buy in 1.1350/60 area and any dip to 1.1280
Stop: 1.1202 offered.
Target: 1.1448, 1.1494 or even towards 1.1617.
Time horizon: This week, ending 1500 GMT Friday.
Buyers Above 50%
Non-independent investment research disclaimer applies. Read more