I initially sold EURUSD at 1.3526. Last week, prices completed a bearish Three Inside Down candlestick pattern below resistance at 1.3231, the late-November swing bottom and my revised stop-loss level, hinting the corrective upswing that played out over the past two weeks is running out of steam. I will continue to hold short, aiming for a soft target slightly at 1.2623. A daily close above 1.3231 triggers the stop-loss. Initial support lines up in the 1.2927-2966 area.
EURUSD: Hold Short as Upswing Falters
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
British Pound May Fall vs Yen on Real Rates, Chart Break
2022-01-20 10:26:00
US Dollar May Rise vs. Yuan as China Worries Mount: Q4 Top Trades
2021-10-06 00:00:00
Euro May Fall Further vs. British Pound as Key Support Gives Way
2021-03-31 09:37:00
USD/CAD Technical Analysis: Canadian Dollar at a Turning Point
2020-02-12 05:42:00