EURUSD shows positive sentiment signals
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.
— Edited by Gayle Bryant