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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

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