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John J Hardy
In this latest webinar, Saxo Bank's head of FX strategy John Hardy analyses the market with topics including synchronised global growth, Saxo’s global risk indicator and data surprises.
Short term
Trade view / 15 August 2016 at 6:08 GMT

EURUSD shows positive sentiment signals

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

The previous week’s failure after reversing no more than half of the preceding week’s gains proved relevant. Buying interest built around the 200-day moving average and translated into more significant upside in the second part of the week – platformed by the 13-day line. Gains were not exceptional – stalling at a daily Marabuzo line and short of the 100-day average. But although these factors inspire caution, our signals for sentiment are positive.

Management and risk description

A move to 1.1221 means the stop can be raised to break even.


Entry: buy in 1.1155/60 area and any dip to 1.1089.

Stop: 1.1022 offered.

Target: 1.1221, 1.1281 or even towards 1.1426.

Time horizon: this week, ending Friday 1300 London time.

Buyers return
Buyers Return
Average platforms
Average Platforms
Long term
Long Term
 Source: all charts from CQG. Create your own charts with SaxoTrader; click here to learn more 

— Edited by Gayle Bryant

For more on forex click here

Non-independent investment research disclaimer applies. Read more
AlanCollins AlanCollins
Through 1.1221 target and approaching the second at 1.1281 - where stops can be pulled as tight as 1.1221.


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