EURUSD: Looking to Add to Short
I initially sold EURUSD at 1.3526 and moved my stop-loss to 1.3231 after the pair met my second objective at 1.2872, aiming for the next target at 1.2586. Prices are now showing a Bullish Engulfing candlestick pattern, hinting an upswing is ahead. I see any gains as corrective and will look to them as an opportunity to add to the position in the days ahead. Initial falling channel resistance stands at 1.2930.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.