Strategy: Exit Short from 1.4881
Total Profit / Loss: +2681 pips
We initially sold EURUSD at 1.4881. Last week, the single currency found support at a falling trend line connecting major swing lows since November 2009 and moved higher, taking out horizontal support-turned-resistance at 1.2160 and opening the door for a challenge of the 1.2585 level. We will cover the short position at this point, booking 2,681 pips in profit. Our bias remains bearish however and we will look for new selling opportunities in the days and weeks ahead.
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