EURUSD: Short Position Taken as Channel Support Breaks
Strategy: Short at 1.4881, Targeting 1.4422
We previously noted that a reversal of the EURUSD rally appeared close as the pair put in a bearish Dark Cloud Cover candlestick formation. We have now seen a break of near-term support with a daily close below the bottom of a rising channel that had guided prices higher since August. We will enter short from here, initially targeting 1.4422. A stop-loss will be activated on a daily close above 1.5140.
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