Strategy: Short at 1.3526, Targeting 1.3144
Floating Profit / Loss: +209 pips
We sold EURUSD at 1.3526. The pair is now approaching our first target at 1.3144, with a daily close below this level serving as the trigger to move our stop-loss to break-even and look for deeper through 1.2836. In the meantime, our risk cutoff continues to require a daily close above 1.3882. Near-term resistance lines up at 1.3450.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.
