DAILY SPOT EURPLN - Tuesday's call and technicals
A rising trend of higher weekly lows has kept this week’s signals pointing higher. However, sellers have returned to the market on Monday, sentiment deteriorating by over 1 Big Fig. The pullback may be corrective, and prices are testing their key daily averages which may provide support. In the absence of a buy signal though the outlook for Tuesday is cautiously bearish and the call is to sell modestly on the open and then at 4.3075, this week’s opening trade with a stop loss at 4.3170, the May/Mar tops. Targets are to 4.2925, last week’s low, 4.2815, the 7th May base and 4.2700, April’s low trade.
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