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EURUSD: Hold Short as Second Target Nears

EURUSD: Hold Short as Second Target Nears

2012-05-16 11:01:00
Ilya Spivak, Head Strategist, APAC
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I initially sold EURUSD at 1.3121 and added to the position at 1.3026. The pair sold off after putting in a bearish Harami candlestick pattern and is now testing my second target at 1.2674 after meeting the first objective yesterday. I will conitnue to hold short with a revised stop-loss to be triggered on a daily close above 1.3073. The third objective once the second one is met is 1.2482.

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