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
- Aug, 31 12:55 GMTBullish EURUSD Toward Weekly S2
- Aug, 27 15:45 GMTRetest Looming in USD/JPY?
- Aug, 27 11:30 GMTUSDJPY Retraces to Resistance
- Aug, 25 12:51 GMTEURUSD Retests 1.1450 Breakout Level
- Aug, 24 11:36 GMTNikkei (JPN225) Collapse Breaks Through Wedge Support