Day trade
/
Buy
Trade view / 14 February 2018 at 6:54 GMT

Watch for bullish break above key average to extend for EURUSD

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: EURUSD
Price target: 1.2476
Market price: 1.2375
Background
Yesterday's bullish bias was confirmed as investors bought EURUSD to higher levels for a second day in a row. Most importantly this move took the currency pair back above the key 13 day moving average, as well as last Wednesday’s Marabuzo line.

The scope of the move from Friday’s low means signals for sentiment are overbought. This may lead to a reactive move, especially after Asian upside. But our studies are positive looking for the upside to develop towards this month's highs.

Management and risk description
A move to 1.2406 means the stop can be raised to break even

Parameters

Entry: Buy in 1.2375/80 area and any 1.2352 dip.

Stop: 1.2316 offered.

Target:
1.2406, 1.2434 and 1.2476.

Time horizon: intraday, closing 1600 GMT.

Through average
Through Average















Strong demand
Strong Demand
















Long-term trend
Long Term














All charts from CQG. Create your own charts with SaxoTrader; click here to learn more

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— Edited by Robert Ryan

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here
14 February
alki alki
Good morning Alan. Plenty of EU and US data today...
14 February
TradingFan TradingFan
Hi Alan, I'm on board since this morning, would you complete at this level as suggested? Thanks
14 February
AlanCollins AlanCollins
I would but only in small. Markets much thinner than expected.
14 February
Cesime Cesime
GM Alan mk waiting for US news, imo
14 February
AlanCollins AlanCollins
Thats true, but often are without it being this quiet. Disappointing anyway
14 February
Cesime Cesime
your analysis ids right as long as the sl is not hit eventually I think eur/usd will break 1.24 , imo
14 February
marran marran
im stopped out then massive reverse! gutted

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