News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
EURUSD: Hold Short as Prices Hit First Target

EURUSD: Hold Short as Prices Hit First Target

Ilya Spivak, Head Strategist, APAC

I re-entered short EURUSD at 1.2595 expecting a corrective bounce in the wake of the EU leaders’ summit to yield back to the dominant trend. Prices have now met our initial objective with a close below 1.2442 to test the second soft target at 1.2364. The pair also appears to have completed a Triangle pattern, a setup indicative of bearish continuation in this scenario. I will continue to holding short, looking for either a close below 1.2364 or a bounce to retest the Triangle bottom to consider adding to the position. A stop-loss will be triggered on a daily close above 1.2746.



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