EUR/USD Technical Strategy: Exit Long Position

Final Profit / Loss: +93 pips

We entered long EURUSD at 1.2934. Prices have now taken out rising trend line support set from early March, hinting at further downside ahead. We will book profits here and look for opportunities to re-enter the position in the days ahead. Near-term neckline support is at 1.2913.

Forex_Strategy_EURUSD_Long_Position_Profit_Booked_body_Picture_5.png, EUR/USD Long Position Profit Booked

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for

To contact Ilya, e-mail Follow Ilya on Twitter at @IlyaSpivak

To be added to Ilya's e-mail distribution list, please CLICK HERE

New to FX? Watch this Video. For live market updates, visit the Real Time News Feed