EURUSD - Buy at 1.2411, Stop 1.2384

25 janv. 2018

This week’s initial tentative buying dip scenario changed to more aggressive investor demand yesterday. Gains of more than a big figure drove EURUSD to new 3 year highs and to the top of a rising Keltner channel. After 5 consecutive up weeks, further gains mean that signals for sentiment are over-stretched especially after Asia kept this move going. This introduces a strong note of caution into our analysis although there is, as yet, no clear sign of exhaustion. Therefore, our call for this morning is a Very Modest Buy from 7am but leaving room to also Buy any Dip to 1.2411. The risk is Asia’s 1.2384 low with an immediate target of 1.2468. A move through that point then exposes sentiment to 1.2490 and towards 1.2541.

25 janv. 2018

Note

Our Buy dip strategy has proved successful with a bounce through the first target at 1.2468. The stop is raised to 1.2444

25 janv. 2018

Note

Second target of 1.2490 exceeded. Approaching 1.2541 our final objective. Stop on any long balances raised to 1.2490