EUR/USD
Strategy: Short at 1.4881, Targeting 1.3404
Weekly Profit / Loss: -87 pips
Total Profit / Loss: +1297 pips
We initially sold EURUSD at 1.4881. Positioning is little changed from last week, with prices continuing to edge along the bottom of a falling channel established from the swing high in early December and trying to gain traction below the 1.35 level. Positive RSI divergence remains, leaving the possibility of a corrective upswing on the table. We see such an outcome as corrective however and will remain short, aiming for a soft target at1.3404 with a stop-loss activated on a daily close above 1.4251.
To discuss these strategies with other traders, please visit the Candlestick Forum
To receive future articles by email, please contact Ilya at ispivak@dailyfx.com
DailyFX provides forex news on the economic reports and political events that influence the currency market.
Learn currency trading with a free practice account and charts from FXCM.
