Free signals for Pipsguide.comSubmitted by pipsguide on October 19, 2011 - 10:50. |
Buy at 1.3750, Target: 1.3890, Stop: 1.3715
As the single currency has continued to move higher after yesterday’s anticipated rebound from 1.3653, suggesting the correction from 1.3914 has ended there and consolidation with upside bias is seen for further gain to 1.3900 but break of this week’s high of 1.3914 is needed to confirm recent rise from 1.3145 has resumed and extend gain towards 1.3950/55 but price should falter well below psychological resistance at 1.4000.
In view of this, we are looking to buy euro again on pullback as the Kijun-Sen (now at 1.3760, also the same level as the lower Kumo) should limit downside. Only below intra-day support at 1.3725 would abort and prolong choppy trading, risk weakness to 1.3690/00.
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