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Forex Strategy: Holding Short EUR/USD

Forex Strategy: Holding Short EUR/USD

2012-12-13 11:01:00
Ilya Spivak, Head Strategist, APAC
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My short EURUSD entry order at 1.2978 has been triggered. Prices are retesting resistance at the top of a falling channel set from mid-September (now at 1.3085). This boundary is reinforced by the underside of a rising trend line set from the November 13 low (1.3102). I will continue to hold short, initially targeting 1.2830. A stop-loss is set to trigger on a daily close above 1.3126.

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