Yields on core European bonds went for a slide yesterday as prices rose in response to the ECB's decision to leave its QE programme unchanged – for now at least. Elsewhere, the USD continues to make gains on its peers.
Day trade
Trade view / 11 August 2016 at 5:51 GMT

EURUSD upside to continue

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

Tuesday’s rejection of the 200-day moving average, and close above the 13-day line, led to more significant upside yesterday. A second up day in a row resulting with demand accelerating. This move took EURUSD up to test a Marabuzo line created by the decline posted on August 3. 

That point held on a closing basis, which does introduce a note of caution. Nonetheless our intraday technical studies are positive and we look for the upside to continue to develop.

Management and risk description

A move to 1.1193 means the stop can be raised to break even.


Entry: buy in 1.1160/65 area and any 1.1146 dip.

Stop: 1.1117 offered.

Target: 1.1193, 1.1212 or even 1.1234.

Time horizon: intraday ending London time 1600.

Average platforms:
Average Platforms
Source: CQG

Minor dips:
Minor Dips

Source: CQG
Long Term
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Source: CQG

– Edited by Gayle Bryant

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