I initially sold EURUSD at 1.3121 and added to the position at 1.3026. The pair sold off after forming a bearish Harami candlestick pattern and I have subsequently revised the stop-loss and target downward to lock in some gains. Prices are now showing a bullish Morning Star candlestick pattern, hinting a bounce is ahead. I will continue to hold short for now, looking for the correction to yield a further selling opportunity. Initial resistance lines up at 1.2569. The stop-loss will now be triggered on a daily close above 1.2674.
EURUSD: Looking for Upswing Ahead
- May, 22 12:15 GMTCrude Nearing Key Pivot
- May, 15 12:30 GMTMore USD Patterns
- May, 14 10:14 GMTUSD remains pressured
- May, 13 18:40 GMTEUR/GBP Holds Near-Term Support, Retains Bullish RSI Momentum
- May, 13 14:45 GMTDaily Observations: Long GBP-crosses are Appealing