Strategy: Pending Short
We initially sold EURUSD at 1.4881 and booked profits on the position earlier this week after the single currency took out horizontal support-turned-resistance at 1.2160 following a bounce from a falling trend line connecting major swing lows since November 2009. From here, the door is open for move to 1.2585. Our bias remains bearish however and we will look for new selling opportunities in the days and weeks ahead.
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