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EURUSD: Continue Holding Short Position

EURUSD: Continue Holding Short Position

2011-12-09 13:41:00
Ilya Spivak, Sr. Currency Strategist
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I initially sold EURUSD at 1.3526. Prices continue to stall at the top of a rising channel set from early October, with the final outcome of the EU leaders' summit looking increasingly likely to disappoint. As such 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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