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Collins: Further gains in EURUSD

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Alan Collins is expecting further gains in EURUSD despite the setback seen in Asia this morning.

"The last 2 weeks have seen limited net movement, a fact that highlights investor indecision, as does the fluctuation around the 13 day moving average. Yesterday's downside rejection, the 2nd in a row, means that EURUSD has posted 4 positive daily performances in a row before today."

Alan outlines three reasons for demand to extend. 
• The 13 day moving average broke yesterday and has limited the Asian move lower
• RSI & Momentum are both positive
• The daily Keltner channel is increasingly bullish.

Upside to focus on 1.1003, 1.1033 and 1.1061.

Setbacks to be limited by 1.0938

Stop:1.0899