EURUSD: Holding Short Below Key Trend Line
Strategy: Short at 1.3073 (Avg), Targeting 1.2864
Floating Profit / Loss: -133 pips
We initially sold EURUSD at 1.3121 and added to the position at 1.3026. The is showing a Shooting Star candlestick below resistance at a falling trend line set from the late February top, hinting a turn lower may be ahead. We will continue to hold for now, looking for a break of support at 1.3025 to expose our initial objective at 1.2864. A stop-loss will be activated on a daily close above 1.3378.
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail firstname.lastname@example.org. Follow Ilya on Twitter at @IlyaSpivak
To be added to Ilya's e-mail distribution list, send a note with subject line "Distribution List" to email@example.com
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.