Strategy: Short at 1.3526, Targeting 1.2586
Floating Profit / Loss: +733 pips
We initially sold EURUSD at 1.3526 and revised our stop-loss to the breakeven level after the pair met our first objective at 1.3144. The pair has now overcome our second soft target at 1.2872 and we will once again re-adjust the trade’s parameters, trailing the stop-loss down to trigger on a daily close above 1.3231 and aiming for the objective at 1.2586.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak
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