Day trade
Trade view / 21 June 2016 at 6:04 GMT

EURUSD upside failure weighs on sentiment

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

This week's signals for sentiment lacked clear direction and yesterday's price action saw the market continue to be swung by events elsewhere.

Asian trading saw strong upside but Europe reversed, to a degree, that positive sentiment. The result was that EURUSD continues to trade close to the 13 day moving average and so our studies are not strong.

Nonetheless, it is the upside rejection that leaves signals negative despite Asian gains

Management and risk description

A move to 1.1302 means the stop can be lowered to break even.


Entry: Sell in 1.1335/40 area and any rally to 1.1357

Stop: 1.1384 bid

Target: 1.1302 and 1.1281

Time horizon: Intraday today

Two-week highs
2 Week Highs

 Not held
Not Held

 Long term
Long Term
Source: All charts from CQG

— Edited by Adam Courtenay

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