EURUSD: Cautiously Adding to Short Position
I initially sold EURUSD at 1.4328 and revised my soft target to the 1.30 figure after the trade’s second objective was met last week. Prices corrected higher and are now showing a Doji candlestick below resistance at 1.3681, the 38.2% Fibonacci retracement level, pointing to ebbing conviction behind bullish momentum and hinting that the sellers may be ready to retake the initiative. I will cautiously grow the position here by 1/5 of current exposure and treat either renewed upside or a confirmed reversal as an opportunity to add more down the road. A stop-loss will be activated on a daily close above 1.3975.
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