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DailyFX Home / Analyst Picks / Ilya Spivak

EURUSD: Holding Short into French, Greek Elections

By , Currency Strategist
04 May 2012 11:01 GMT

I initially sold EURUSD at 1.3121 and added to the position at 1.3026. The pair completed a bearish Harami candlestick pattern below resistance at a falling trend line set from the late February top and reversed lower. I will continue to hold short into the weekend's French and Greek elections, looking for a break of support at 1.3025 to expose my initial objective at 1.2864. A stop-loss will be activated on a daily close above 1.3378.

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04 May 2012 11:01 GMT