EURUSD - Buy at 1.2045 and 1.2011, Stop 1.1980

FX:EURUSD   Euro / U.S. Dollar
Two consecutive daily closes below the 13 day mvg avg did not have the negative impact assessed. Instead, fuelled by the ECB, buying above 1.1900 this time translated into a strong improvement of more than 1 ¼ big figures – taking EURUSD comfortably above the 13 day mvg avg . Despite volatility concerns, we look for this upside to extend and so this morning’s call is Bullish from the open but leaving room to also buy a 1.2011 dip. The risk is 1.1980, the 13 day mvg avg , with upside targets of 1.2068, Asia’s peak, this month’s 1.2089 top and 1.2121, the 2015 high point.

Comment: Has traded to first target and so exposure reduced and stop raised to 1.2030. The buy a 1.2011 dip is cancelled
Comment: Marginally short of 3rd target at 1.2121 but would close out longs at current levels and look again next week
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