EURUSD: Hold Short as Selling Accelerates
Strategy: Short at 1.4328, Targeting 1.3975
Floating Profit / Loss: +182 pips
We initially sold EURUSD at 1.4328. The pair has now produced an Evening Star bearish candlestick pattern below the recent range top at 1.4535, the July 27 high and our stop-loss threshold (to be activated on a daily close above the level), and proceeded to break lower through rising trend line support. We will continue holding short, aiming for a soft target at 1.3976.
To discuss these strategies with other traders, please visit the Candlestick Forum
To receive future articles by email, please contact Ilya at email@example.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.