Short term
Trade view / 12 September 2016 at 9:20 GMT

Support at key levels points EURUSD higher

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom

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. 

More relevantly, EURUSD remains close to the midpoint of the weekly Keltner channel and around the 13/100-day moving average area. Its is that area that our signals for sentiment suggest will platform gains in the coming days.

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.

Buyers return:
Buyers Return

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Source: Saxo Bank 

Averages to platform?
Averages to Platform
Source: CQG

Long Term
Source: CQG

— Edited by Michael McKenna

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