Short EURUSD From 1.4200
I think the EURUSD has finally shown willingness to break below its multi-month range; it's broken conclusively below the ascending triangle dating back to its lows on July 12 and looks to head lower. As per yesterday's note, I sold congestion of 1.4200 with first target at August lows of 1.4050. Half of the position is now off, and the remaining half will have a stop moved down to roughly breakeven above 1.4200. As I said yesterday, a break of 1.4050 makes a move towards 1.3800 likely.
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