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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.
Day trade
Trade view / 03 January 2018 at 6:38 GMT

EURUSD tracks key channel higher

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: EURUSD
Price target: 1.2121
Market price: 1.2055

The downside rejection of December’s lows extended yesterday. 

This latest improvement took EURUSD close to last year’s highs and although the highs were not maintained, the market is tracking the upper band of a positively trending Keltner channel. 

So, allowing for the limited profit-taking scenario to continue, we look for investor demand to extend through 2015 highs.

Management and risk description

A move to 1.2082 means the stop can be raised to break even.


Entry: buy in 1.2050/55 area and at 1.2026.

Stop: 1.1994 offered.

Target: 1.2082, 1.2121 or even 1.2158

Time horizon: Intraday, closing 1600 GMT.

Positive channel
Positive Channel
Limited setbacks
Limited Setbacks
Long term
Long Term
Source: all charts 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
A compiled overview of Trade Views provided on is found here
03 January
themis themis
Hi Alan, happy new year
Are still in favor of this placement pls?
03 January
AlanCollins AlanCollins
No themis. bit late in the day anyway but signals have not worked out as I originally analysed.
03 January
themis themis
Thanks v m
04 January
Mattyboy Mattyboy
My trade only just closed haha but still managed a profit :)
04 January
Alan M Alan M
Nicely done Alan! Hope you stuck to your guns on this one
04 January
AlanCollins AlanCollins
All my calls on here are intraday only. ending 16.00GMT. so this idea was dead then. Nonetheless pleased for Mattyboy that he had the conviction to hold. I'm too impatient
04 January
Mattyboy Mattyboy
Cheers mate


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