Support of key average points higher for EURUSD
In line with yesterday's bullish bias for sentiment, Tuesday’s break above the key 13-day moving average proved important. This led to continued gains that yielded a third up day from the last four and the highest levels traded for two weeks. Intraday signals for sentiment are becoming overbought but with the market above the crucial average we are looking for setbacks to prove temporary and for the upside to develop towards the top of the daily Keltner channel.
Management and risk description
A move to 1.1900 means the stop can be raised to break even.
Entry: buy in 1.1868/43 area and at 1.1842.
Stop: 1.1809 offered.
Target: 1.1900, 1.1934 and 1.1963.
Time horizon: intraday, closing 1500 GMT.