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EURUSD bullish strength indicators
Alan Collins from 3cA Analysis is looking at EURUSD and an increasingly positive tone.
After eight weeks of indecisive counter moves, last week saw a second up-week in succession for the first time this year.
Backed up by bullish strength indicators his call for this week was positive and this has been confirmed by;
· A clear breach of the top of the daily Ichimoku Cloud
· New seven week highs
· And a move to grip the top of a positively trending Keltner channel .
Overbought extremes may encourage profit taking but he's looking for such setbacks to attract fresh demand, while the market stays above 1.3709 ; with scope to 1.3819 then towards Dec’s 1.3893 peak.
00:59 minutes
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