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EUR/USD - Positive, supported by key Averages.

In line with yesterday's call, buyers were attracted around the 13/100 day mvg avg area for a 3rd day in a row. Gains were modest though and unable to effectively breach Friday’s Marabuzo line. That adds a strong note of caution but our intraday signals are positive and so our call for this morning is a Buy from 7am  but leaving room to also Buy any Dip to 1.1066, Tuesday’s open. The risk is Friday’s 1.1039 low trade with an immediate target of 1.1111, Friday’s high. A move through that point then exposes sentiment to 1.1143, the  top of the Keltner channel, and  1.1167, the 5 week open.

Supported by Key Averages

EURUSD

EUR/USD Current Trading Positions

Sell 58%
Buy 42%
100.0%58.0%055606570758085909510000.10.20.30.40.50.60.70.80.910
Avg Sell Price 1.1069
Avg Buy Price 1.1084
Liquidity Distribution
1.03131.10421.120000.10.20.30.40.50.60.70.80.911.100.10.20.30.40.50.60.70.80.911.03131.10421.1200SellBuy

Author

Alan Collins

Alan Collins

3cAnalysis

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

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