EURUSD upside to continue
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.
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.
– Edited by Gayle Bryant