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. Seesaw volatility in the wake of Spain's weekend bank bailout deal has left the pair little changed but I expect Greek election jitters to bring prices back under pressure in the days ahead. With that in mind I will remain short, targeting 1.2244 as the next downside objective. A stop-loss will be triggered on a daily close above 1.2674.
EURUSD: Continue Holding Short Position
- 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