Strategy: Short at 1.3526, Targeting 1.3141

EURUSD completed a Head and Shoulders top bearish reversal chart pattern following a retest of support-turned-resistance at the bottom of a rising channel that defined the uptrend from June 2010 to September 2011 with a break through the formation’s neckline at 1.3662. We will enter short here, targeting objectives at 1.3141 and 1.2836. A stop-loss will be activated on a daily close above 1.3882.

EURUSD_Short_Trade_Triggered_Above_1.35_body_Picture_5.png, EURUSD: Short Trade Triggered Above 1.35

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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