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EURUSD: Second Target Hit on Short Trade

EURUSD: Second Target Hit on Short Trade

2012-01-06 03:09:00
Ilya Spivak, Head Strategist, APAC
Share:

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.

EURUSD_Second_Target_Hit_on_Short_Trade_body_Picture_5.png, EURUSD: Second Target Hit on Short Trade

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

To contact Ilya, e-mail ispivak@dailyfx.com. Follow me on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to ispivak@dailyfx.com

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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