Support at key levels points EURUSD higher
After two down weeks, buying interest returned to EURUSD at the beginning of last week. Gains of almost two big figures were posted at one stage but sentiment reversed firmly after Thursday’s European Central Bank outing with the market then left with only minor net movement.
Management and risk description
A move to 1.1328 means the stop can be raised to break even or better.
Entry: buy in 1.1220/30 area and any dip to 1.1155.
Stop: 1.1069 offered.
Target: 1.1328, 1.1367 or even 1.1426.
Time horizon: this week, ending September 16 at the London close.
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— Edited by Michael McKenna