Contrary to yesterday's bearish call, demand at the 50/100 day mvg avg area proved more substantial than assessed. Demand grew as the day progressed - to end a sequence of 5 down days – and has moved higher in Asia. Although the market remains below the 13 day line, and is counter-trend, it appears incomplete. Therefore, with caution, our call for this morning is a Buy from 7am London time but leaving room to also Buy any Dip to 130.05, Asia’s open. The risk is 129.55, yesterday's afternoon low, with an immediate target of 130.61, Monday’s Marabuzo line. A move through that point then exposes sentiment to 130.97, the 13 day average, or even 131.26, this week's high.
Any opinions, news, research, analysis, prices, trade recommendations or other information is provided as general market commentary and for educational purposes, and does not constitute investment advice. Any statements about profits or income, expressed or implied, do not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profits or losses, and agree to hold 3CAnalysis.com and any authorized distributors of this information harmless in any and all ways. 3CAnalysis.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Forex, Futures, Stock, and/or Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex, Futures, Stock, and/or Options markets. The information contained in these pages is neither a solicitation nor an offer to Buy/Sell Currencies, Futures, Stock, or Options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed.
Please also note that 3cAnalysis does not perform any regulated activities and does not report to any regulator.