EURUSD: Hold Short as EU Summit Looms
I initially sold EURUSD at 1.4328. Prices have stalled above support at 1.3708, the 14.6% Fibonacci extension level, after producing a Bearish Engulfing candlestick pattern below familiar resistance at the 1.39 figure. The weekend's EU summit proved disappointing and I will remain short, maintaining a stop-loss to be activated on a daily close above 1.3975 and aiming for a revised soft target at 1.30.
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