DAILY SPOT EURPLN - Wednesday's trade idea and technicals
Bullish signals on the week have been confirmed with gains of over 1 ½ Big Figs. However, although there is no sell signal, Tuesday’s outlook was more cautious, requiring a break of March’s 4.3170 top to add to longs. Although this has yet to occur, the lack of any pullback and a trend of higher daily lows switches signals back to cautiously bullish and the call is to buy modestly on the open and then at 4.3035, yesterday’s low with a stop loss at 4.2940, Friday’s base. Targets are to 4.3160, March’s high, 4.3250 and 4.3430/60, this year’s tops in Feb.
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