For a second day in a row EURUSD initial downside was not sustained yesterday. This time, minor net gains were posted although EURUSD was unable to clearly break above the 13-day moving average. However, Asian trading has extended the topside and we look for the 13-day MA to platform further gains towards last week’s high point.
Management and risk description
A move to 1.1808 means the stop can be raised to break even.
Entry: Buy in 1.1777/82 area and at 1.1764.
Stop: 1.1734 offered.
Target: 1.1808, 1.1847 and 1.1870.
Time horizon: Intraday, ending 1500 GMT.
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— Edited by Susan McDonald
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