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.
EURUSD: Hold Short as Prices Approach Target
- May, 09 11:01 GMTEURUSD: Support Break Exposes First Target
- May, 08 11:01 GMTEURUSD: Possible Bounce Seen as Selling Opportunity
- May, 07 11:01 GMTEURUSD: Continuing to Hold Short
- May, 04 11:01 GMTEURUSD: Holding Short into French, Greek Elections
- May, 03 11:01 GMTEURUSD: Continuing to Hold Short