SaxoTV

Lucas: Buying EURJPY on a dip

145 views
October 24, 2014 currencies, currency, currency pair, currency pairs, currency trading, eue, eueeue, eur, eurjpy, eurjpy price, euro, euro dollar, eurodollar, europe, european central bank, european economy, eurozone, eurusd, forex, forex buying, forex idea, forex market, forex markets, forex saxo bank, forex trade idea, forex trading, saxo, saxo bank, saxo bank saxo tv, saxo bank trading, saxo bank trading floor, saxo bank tradingfloor.com, saxo capital markets, saxo tv, saxo tv saxo bank, saxo tv trading floor, saxo tv tradingfloor, saxo tv tradingfloor.com, saxobank, saxotv, steve lucas, steve lucas 3c analysis, trade idea, trade view, traders tale, traders tale saxo tv, tradingfloor, tradingfloor.com
Steve Lucas from 3c Analysis is looking at buying EURJPY. Last week the pair posted a weekly Hammer at an eleven month low. According to Steve, this week’s signals point at buying dips towards 135.25, which is a 62 percent pullback to the gains since last week’s low. Steve mentions some risks: firstly prices are still below the 50 & 100 day averages and secondly yesterday’s Ebola scare in New York might cause some concern.

Steve’s call is to buy on the open at 136.30 with a stop at 136.00. His targets are 137.69, a 50 percent recovery to losses since September's high and 137.94 which is the two week top