EURUSD: Consolidation Continues Above 1.35 Figure
Strategy: Short at 1.4881, Targeting 1.3404
Weekly Profit / Loss: +17 pips
Total Profit / Loss: +1302 pips
We initially sold EURUSD at 1.4881. Positioning is little changed from last week, with prices continuing to edging sideways above the 1.35 level. Positive RSI divergence remains, leaving the possibility of a corrective upswing on the table. We see such an outcome as corrective however and will remain short, targeting a move below 1.3404 with a stop-loss activated on a daily close above 1.4251.
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