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EURUSD: Continue Holding Short

EURUSD: Continue Holding Short

2012-01-30 11:01:00
Ilya Spivak, Head Strategist, APAC
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I initially sold EURUSD at 1.3526 and moved the soft target to 1.2586 after the pair met my second objective at 1.2872. A corrective recovery played out as suspected over the past two weeks but now the EU leaders’ summit threatens to hand momentum over to the bears once more. I will continue holding short, with a stop-loss to be activated on a daily close above 1.3231.

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