Never miss a story from Ilya Spivak

Subscribe to recieve updates on publications
Please enter valid First Name
Please fill out this field.
Please enter valid Last Name
Please fill out this field.
Please enter valid email
Please fill out this field.
Please select a country

I’d like to receive information from Daily FX and IG about trading opportunities and their products and services via email.

Please fill out this field.
For more info on how we might use your data, see our privacy notice and access policy and privacy website.

Your Forecast Is Headed to Your Inbox

But don't just read our analysis - put it to the rest. Your forecast comes with a free demo account from our provider, IG, so you can try out trading with zero risk.

Your demo is preloaded with £10,000 virtual funds, which you can use to trade over 10,000 live global markets.

We'll email you login details shortly.

Learn More about Your Demo
Or, read more articles on DailyFX

You are subscribed to Ilya Spivak

You can manage you subscriptions by following the link in the footer of each email you will receive

An error occurred submitting your form.
Please try again later.

Strategy: Short at 1.2595, Targeting 1.2442

We booked profits on our previous short EURUSD position last week. Prices appeared to complete an upward correction with a break of rising channel support on June 21 and have now rebounded to improve risk/reward parameters for re-entry. We will try a small new short position here, initially targeting 1.2442. A stop-loss will be activated on a daily close above 1.2746.

EURUSD_Small_New_Short_Position_Triggered_body_Picture_5.png, EURUSD: Small New Short Position Triggered

Daily Chart - Created Using FXCM Marketscope 2.0

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

To contact Ilya, e-mail ispivak@dailyfx.com. 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 ispivak@dailyfx.com