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Trade idea: Long EURUSD on Dollar weakness
Richard Perry from Central Markets is looking to take advantage of the current dollar weakness, and therefore long Euro Dollar.
He says euro dollar broke out of a small trading range on Wednesday and that all moving averages are rising in a bullish sequence on the daily chart.
As a result, Richard's strategy is to go long into any intraday weakness to the top of the support band USD 1.3540 - USD 1.3570.
He says a stop can be placed below the support at USD 1.3540, so at USD 1.3530, and he targets a move towards the key high at USD 1.3713 .
The dollar languished at eight-month lows on Thursday as the US government shutdown dragged on, while positive developments in Italian politics and a watchful but patient European Central Bank helped lift the euro.
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01:05 minutes
Tags: barack obama, dollar, dollar weakness, eu politics, eur, euro, europe, eurozone, eurusd, forex, fx markets, government, investing, investment, italy, letta, markets, saxo bank, saxo tv, trade idea, trader, trading, tradingfloor.com, us government, us government shutdown, us politics, us shutdown, usd