News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
EURUSD: Adding to Short Trade on Upswing

EURUSD: Adding to Short Trade on Upswing

Ilya Spivak, Head Strategist, APAC

Strategy: Short at 1.3526, Targeting 1.2586

Floating Profit / Loss: +710 pips

We initially sold EURUSD at 1.3526 and moved our stop-loss to 1.3231 after the pair met our second objective at 1.2872, aiming for the next target at 1.2586. Prices are now showing a Bullish Engulfing candlestick pattern, hinting an upswing is ahead. We see any gains as corrective and will look to them as an opportunity to add to the position in the days ahead. Initial falling channel resistance stands at 1.2930.

EURUSD_Adding_to_Short_Trade_on_Upswing_body_Picture_5.png, EURUSD: Adding to Short Trade on Upswing

--- 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.

DISCLOSURES