WEEKLY EURUSD - hugging the upper band of daily and weekly Keltner channels keeps our studies as bullish.
​Last week's positive call was confirmed with strong gains taking EURUSD to all of our weekly targets. These gains of almost 2 ½ big figures also yielded our first quarterly objective and the most bullish levels traded for 22 months. Signals for sentiment are overbought and a reaction is likely. But with the currency pair hugging the upper band of daily and weekly Keltner channels, our studies are bullish. In light of this, our call for this week is a Buy from the open but leaving room to also Buy any Dip to 1.1619, Friday’s low. The risk is 1.1516, Thursday’s open, with an immediate target of 1.1712, the August 2015 high. A move through that point then exposes sentiment to 1.1835 or even towards 1.1945
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