Published On: Mon, Feb 20th, 2017

EURUSD points to lower highs

InstaForex

Background


Negative signals for sentiment last week were confirmed with an initial aggressive selloff that yielded the most bearish prices traded for five weeks. Although those extremes were sharply rejected, the bounce failed around the key 13-day moving average. While this left EURUSD virtually unchanged on the week – highlighting investor indecision – the weakness of the upside is expected to affect trading in the coming days.

Management and risk description


A move to 1.0521 means the stop can be lowered to breakeven.

Parameters

Entry: Sell EURUSD in 1.0625/30 area and at 1.0681

Stop: 1.0781 bid

Targets: 1.0521 and 1.0453

Time horizon: this week, ending Friday 1300 GMT

Weekly EURUSD – 50% capping

Source: CQG Inc

EURUSD daily – sold from average

Source: CQG Inc

EURUSD long term

Source: CQG Inc

— Edited by John Acher

Non-independent investment research disclaimer applies. Read more
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