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EUR/USD Long Position Profit Booked

By , Currency Strategist
10 May 2013 00:23 GMT

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.

Forex_Strategy_EURUSD_Long_Position_Profit_Booked_body_Picture_5.png, EUR/USD Long Position Profit Booked

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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10 May 2013 00:23 GMT