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EURUSD: Continue Holding Short

EURUSD: Continue Holding Short

2011-12-05 11:01:00
Ilya Spivak, Sr. Currency Strategist
Share:

I initially sold EURUSD at 1.3526. The pair stalling near resistance at 1.3455, a barrier reinforced by the top of a near-term rising channel, with a Doji candlestick pointing to bullish indecision and hinting that reversal lower may be ahead. I will remain short, maintaining an initial target at 1.3144 and a stop to be activated on a daily close above 1.3882.

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