EUR/USD Technical Strategy: Exit Long Position
Final Profit / Loss: +93 pips
We entered long EURUSD at 1.2934. Prices have now taken out rising trend line support set from early March, hinting at further downside ahead. We will book profits here and look for opportunities to re-enter the position in the days ahead. Near-term neckline support is at 1.2913.
Daily Chart - Created Using FXCM Marketscope 2.0
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail email@example.com. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, please CLICK HERE
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.