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EUR/USD: Prices Break 1.30, Target 2009 Lows

EUR/USD: Prices Break 1.30, Target 2009 Lows

2010-05-07 12:14:00
Ilya Spivak, Sr. Currency Strategist
Share:

Strategy: Short at 1.4881, Targeting below 1.2531
Weekly Profit / Loss: +653 pips
Total Profit / Loss:
+2154 pips

We initially sold EURUSD at 1.4881. The pair has moved sharply lower, taking support at the bottom of a falling channel established from February and surpassing our most recent revised objective at 1.3191. We will continue holding short, revising our stop-loss to be activated on a daily close above 1.3364 and targeting below 1.2531.

05072010 EUR


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