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EURUSD: Short Trade Entered as Prices Breach Support

By Ilya Spivak, Currency Strategist
23 August 2010 21:34 GMT

Strategy: Short at 1.2661, Targeting 1.2130

EURUSD has confirmed the break of a rising trend line set from the low in early June with push through horizontal support in the 1.2715-1.2755 congestion region. We will enter short from here, initially targeting 1.2130. A stop-loss will be activated on a daily close above 1.2925.

EURUSD_Short_Trade_Entered_as_Prices_Breach_Support_body_082210_EUR.png, EURUSD: Short Trade Entered as Prices Breach Support

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23 August 2010 21:34 GMT