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DailyFX Home / Analyst Picks / Ilya Spivak

EURUSD: Hold Short as Prices Approach Target

By , Currency Strategist
10 May 2012 11:01 GMT

I initially sold EURUSD at 1.3121 and added to the position at 1.3026. The pair sold off after putting in a bearish Harami candlestick pattern identified last week and has now taken out support at 1.3025. I will continue to hold short, looking for prices to hit my initial objective at 1.2865 from here. A stop-loss will be activated on a daily close above 1.3378.

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10 May 2012 11:01 GMT