EURUSD: Another Target Met as Aggressive Selling Continues
Strategy: Short at 1.4881, Targeting 1.3404
Weekly Profit / Loss: +191 pips
Total Profit / Loss: +1384 pips
We initially sold EURUSD at 1.4881. Prices are have moved beyond our latest revised profit target, continuing to edge along the bottom of a falling channel established from the swing high in early December. Positive RSI divergence remains, leaving the possibility of a corrective upswing on the table, but we will revise our soft target to 1.3404 from here. As before, a stop-loss will be activated on a daily close above 1.4251.
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