News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Holding EURUSD short into the weekend

Holding EURUSD short into the weekend

David Rodriguez, Head of Product

Two days ago I wrote on the Real Time News feed that I put in a sell-limit order on EURUSD at $1.3150. My entry triggered and I'm sitting short as the Euro trades near important lows.

Yesterday I trailed my stop above $1.3163 and feel comfortable holding the position into the weekend. The bad NFP report initially sent the EURUSD sharply higher, but as markets settle down I don't think we see any sharp USD losses through the foreseeable future and am comfortable remaining long (short EURUSD).

I'm targeting a break below $1.30, $1.2960, and $1.2800.

--- Written by David Rodríguez, Quantitative Strategist for DailyFX.com

To receive this author's reports via e-mail, contact drodriguez@dailyfx.com with subject line "Distribution List".

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES