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EURUSD: Holding Short Trade

EURUSD: Holding Short Trade

Ilya Spivak, Head Strategist, APAC

I initially sold EURUSD at 1.3121 and added to the position at 1.3026. The pair continues to trace out a choppy Head and Shoulders topping chart formation, with a daily close below neckline support at 1.3025 confirming the setup. I will remain short, maintaining an initial downside objective at 1.2864 for now. As before, a stop-loss will be activated on a daily close above 1.3378.

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

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