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May look to re-enter EURUSD short around 1.4000

May look to re-enter EURUSD short around 1.4000

2011-09-14 19:50:00
David Rodriguez, Head of Product
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Last week I closed out all of my EURUSD short position as it hit 1.3800--my eventual profit target. And obviously I could've held on for longer as the EURUSD challenged 1.3500, but I can hardly complain with the trade that was fairly successful.

I'm now looking for a EURUSD bounce into the 1.4000 area. I may look to once again bet on EURUSD declines if we test and fail there, but it's significant to note that FX Options markets warn of a potential bearish sentiment extreme. That is to say, the EUR may have set a noteworthy short-term bottom. Thus we will wait and see whether it is prudent to re-enter a EURUSD short position when and if we retest 1.4000.

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