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Opinion

The January effect

The January effect
February 20, 2017
The January effect

EURO/US DOLLAR

Rallying from long term support at 1.0520 to end the week with a good-sized doji candle. This adds weight to our idea that the euro has found an interim long term low against the US dollar.

SHORT TERM TRADER: Small long at 1.0625; stop below 1.0500. Target 1.0730/1.0800.

POSITION TAKER: Square.

SUPPORTRESISTANCE
1.06001.0680
1.05701.0700
1.05201.0760
1.04501.0800