EURGBP tracking Keltner channel higher

0
8


Background


Yesterday’s positive bias for sentiment proved correct as a sharp move lower found fresh buyers comfortably above the 13-day moving average. The resulting bounce was an aggressive one and took EURGBP to the highest levels traded since October and maintained a “hugging” of the upper band of a rising Keltner channel. 

Intraday signals for sentiment are at overbought extremes and an early reaction may be seen. But with the underlying tone clear we continue to look for this cross to track the Keltner channel higher.

Management and risk description


A move to 0.9155 means the stop can be raised to break even.

Parameters

Entry: buy in 0.9120/23 area and at 0.9109.

Stop: 0.9084 offered.

Target: 0.9143, 0.9155 and 0.9174.

Time horizon: intraday, ending 1500 GMT.

Positive channel

 

Setback bought

 

Long term

Source: all charts CQG. Create your own charts with SaxoTrader; click here to learn more 

– Edited by Gayle Bryant

For more on forex click here

Non-independent investment research disclaimer applies. Read more
A compiled overview of Trade Views provided on TradingFloor.com is found here



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here