Day trade
/
Sell
Trade view / 11 January 2018 at 6:49 GMT

Watch for EURUSD downside following failure at Marabuzo line

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: EURUSD
Price target: 1.1859
Market price: 1.1945
Background

Most of Wednesday was dominated by a profit-taking reaction to three consecutive down days. Net movement was minimal, however, after the upside was reversed into the close after Monday’s Marabuzo line attracted sellers and EURUSD closed around the 13-day line.

This upside failure renews the negative bias and we look for the downside to develop further.

Management and risk description

A move to 1.1923 means the stop can be lowered to break even.

Parameters

Entry: Sell in 1.1950/55 area and at 1.1970.

Stop: 1.2018 bid.

Targets: 1.1923, 1.1889 and 1.1859.

Time horizon: intraday, closing 16:00 GMT.

Marabuzo line:
Marabuzo Line
Source: CQG

Limited bounce:
Limited Bounce
Source: CQG

Long-term trend:
Long Term














Source: CQG
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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
11 January
Norberto Norberto
Hi Alan, hopefully the stop loss holds...
11 January
AlanCollins AlanCollins
Not looking great at the moment thoug tbh. Tough start to 2018 trading conditions imo
11 January
Norberto Norberto
Yes indeed
11 January
alki alki
ECB is the name, ECB minutes is the game.
11 January
Norberto Norberto
Yes
11 January
Pluis Pluis
Hit sl
11 January
Alan M Alan M
FX is very tough at the moment, look at those moves today!
11 January
Pluis Pluis
Thanks for charing your analises with us, Alan! You are very often right and only seldom wrong...
12 January
marran marran
I wouldn't say Alan was seldom wrong, every analyst is wrong a lot of the time, its all about being in profit at the end of the day, and you can only do that with strict money management
12 January
AlanCollins AlanCollins
Money Management is the key to everything trading wise. You're certainly right on that point marran
12 January
marran marran
I didn't mean to sound disrespectful, saying you were seldom wrong, my experience of analysts is that they are wrong a lot of the time, the main point is to come out ahead at the end of the year
12 January
AlanCollins AlanCollins
No offence taken. Been around the markets far too long to have an ego, haha. And your Money Management point is an excellent one. The most difficult thing to learn and teach.

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