Video

#SaxoStrats
John J Hardy, Saxo's Head of Forex Strategy, outlines the key events going forward for forex markets, including the upcoming FOMC meeting, as well as fresh updates on the Bank of Japan, the European Central Bank and the Bank of England.
Day trade
/
Buy
Trade view / 12 January 2018 at 6:59 GMT

Watch for extended EURUSD upside after break above key average

Partner at 3 C ANALYSIS / 3cAnalysis
United Kingdom
Instrument: EURUSD
Price target: 1.2121
Market price: 1.2046
Background
Two consecutive daily closes below the 13 day moving average did not have the negative impact that were assessed as likely. Instead, fuelled by the ECB, buying above 1.1900 this time translated into a strong improvement of more than 1 ¼ big figures – taking EURUSD comfortably above the 13 day moving average.

Despite volatility concerns, we look for this upside to extend.

Management and risk description
A move to 1.2068 means the stop can be raised to break even.

Parameters

Entry: Buy in 1.2040/45 area and any 1.2011 dip.

Stop:
1.1980 offered.

Target: 1.2068, 1.2089 and 1.2121.

Time horizon: intraday, closing 1600 GMT.

Above average
Above Average
 
Strong gains
Strong Gains
 
Long-term trend
Long Term
All charts from CQG. Create your own charts with SaxoTrader; click here to learn more

For more on forex, click here.

— 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
12 January
themis themis
Gd day Alan
Many thanks,though hard to decide today,after yesterday’s sock....
12 January
AlanCollins AlanCollins
Marginally short of 3rd and final target. Would close out at current 1.2115 levels
12 January
marran marran
gutted to say i have missed this trade!
12 January
Bluesboy2 Bluesboy2
Super call Alan. Action packed, bullet move.
12 January
AlanCollins AlanCollins
Thanks Bluesboy 2. have a great weekend
12 January
TradingFan TradingFan
Hi Alan, happy new year and congratulations! 1st 2018 trade for me....and nice move

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