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Forex Strategy: EUR/USD Short Position Triggered

By , Currency Strategist
11 November 2013 04:13 GMT

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Talking Points

  • EUR/USD Technical Strategy: Short at 1.3362, initially targeting below 1.3148 (23.6% Fib exp.)
  • A break of trend line support set from July bolsters the Bearish Engulfing setup noted last week
  • The stop-loss has been set to trigger on a weekly close above 1.3577

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Forex_Strategy_EURUSD_Short_Position_Triggered_body_Picture_5.png, Forex Strategy: EUR/USD Short Position Triggered

Weekly Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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11 November 2013 04:13 GMT