Published On: Fri, Apr 28th, 2017

Watch for EURUSD to keep drifting lower

InstaForex

Background


The upside for EURUSD stalled, and reversed, on Thursday marginally short of this week’s top. Net losses were posted for a second day in a row. 

The decline was modest though. Based at the same levels as the two previous days, EURUSD remains above its 200 day moving average and near the top of the daily Keltner channel. But that channel is flattening and given that EURUSD was sold at lower levels in Asia, our intraday studies are left negative.

Management and risk description


A move to 1.0836 means the stop can be lowered to break even or better

Parameters

Entry: Sell in 1.0865/70 area and at 1.0897.

Stop: 1.0933 bid.

Target: 1.0836, 1.0820 and 1.0791.

Time horizon: intraday, ending 1500 GMT.

Back to average

 Profit Taking

 Long-term trend

 All charts from CQG. Create your own charts with SaxoTrader; click here to learn more.
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— Edited by Robert Ryan

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

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