EURUSD: Hold Short as Selling Accelerates
Strategy: Short at 1.3073 (Avg), Targeting 1.2865
Floating Profit / Loss: +92 pips
We initially sold EURUSD at 1.3121 and added to the position at 1.3026. The pair sold off after putting in a bearish Harami candlestick pattern identified last week, with sellers now testing below support at 1.3025. We will continue to hold short, looking for a daily close through this level to expose our initial objective at 1.2865. 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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