Holding EURUSD short into the weekend
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 firstname.lastname@example.org with subject line "Distribution List".
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.