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
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