EUR/USD - Marabuzo line to support demand

Alan Collins 3cAnalysis

The stalling of EURUSD demand at the 100 day mvg avg Monday left our outlook neutral. That proved correct as the market fluctuated between that average and Monday’s Marabuzo line but, during European time, lacked follow through momentum. Trapped between averages and the Marabuzo line immediate technical studies cannot be strong But Asian gains are enough to provide a mildly positive intraday bias and so this morning’s call is Bullish but leaving room to also buy a 1.1434 dip, Asia’s low. The risk is 1.1398, this week's opening price, with upside targets of 1.1486, yesterday's high, 1.1507 and 1.1534, top of the daily Keltner channel.

Marabuzo Line Supports

Higher Lows

EURUSD Current Trading Positions

Sell 39%

Buy 61%

Avg Sell Price 1.1391

Avg Buy Price 1.1427

Liquidity Distribution

Author

Alan Collins

3cAnalysis

Alan has been involved in the financial markets for more than 30-years.

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