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EURUSD: Stay Short, Targeting Below 1.34

EURUSD: Stay Short, Targeting Below 1.34

2010-03-09 11:26:00
Ilya Spivak, Sr. Currency Strategist
Share:

I initially sold EURUSD at 1.4881. Positioning is little changed from last week, with prices continuing to edging sideways above the 1.35 level. Positive RSI divergence remains, leaving the possibility of a corrective upswing on the table. I see any such outcome as corrective however and will remain short, looking for a move below 1.3404 with a stop-loss activated on a daily close above 1.4251.

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