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.