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EURUSD: Looking to Short Again

EURUSD: Looking to Short Again

Ilya Spivak, Head Strategist, APAC

I initially sold EURUSD at 1.3526. I booked profits on the trade earlier this week after the recent upswing issued a daily close above 1.3231 and will now look for next compelling opportunity to re-enter the position. In fact, negative RSI divergence already warns of lackluster momentum behind the move higher. The next layer of significant resistance lines up at 1.3456.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.