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 pushed higher to start the trading week after Spain secured a bailout for its banking sector but I expect Greek election jitters to bring prices back under pressure in teh days ahead. With that in mind I will remain short, targeting 1.2244. A stop-loss will be triggered on a daily close above 1.2674.
EURUSD: Stay Short as Spain Gets Bailout
- May, 26 10:30 GMTUSD/JPY near 8-year highs
- 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