Trading was volatile in EURUSD
Tuesday. An early positive reaction to 2 days of strong selling saw a bounce from the 13 day mvg avg
that lacked the momentum to test Monday’s highs. But a renewal of selling interest was unable to maintain levels below the 13 day mvg avg
and a Marabuzo line created Jan 24th. The result was limited net movement and a stalling around the average. This price action does not provide strong signals for sentiment but our call for this morning is a Cautious Buy from 7am but leaving room to also Buy any Dip to 1.2346. The risk is 1.2314, yesterday's low, with an immediate target of 1.2403. A move through that point then exposes sentiment to 1.2434, yesterday's top, and towards this week's 1.2476 high.