I re-entered short EURUSD at 1.2595 and moved our stop-loss to breakeven after the pair met my second objective. Prices are now showing a Bearish Engulfing candlestick pattern below support-turned-resistance at 1.2335 reinforced by a falling trend line set from early May, hinting a turn lower is ahead. I will add to my short position here (1.2274) and trail the stop-loss to be activated on a daily close above 1.2389, aiming for an initial objective at 1.2059.

Adding to Short EURUSD Position
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.