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Forex Strategy: EUR/USD Short Position in Play

Forex Strategy: EUR/USD Short Position in Play

2013-12-30 11:19:00
Ilya Spivak, Head Strategist, APAC
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Talking Points

  • EUR/USD Technical Strategy: Holding short from 1.3757
  • Prices put in a Bearish Engulfing candlestick pattern, hinting at a reversal lower
  • The first major downside objective is at 1.3209 (23.6% Fibonacci expansion)

Confirm your chart-based trade setups with the Technical Analyzer.

Forex_Strategy_EURUSD_Short_Position_in_Play_body_Picture_5.png, Forex Strategy: EUR/USD Short Position in Play

Weekly Chart - Created Using FXCM Marketscope 2.0

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

Contact and follow Ilya on Twitter: @IlyaSpivak

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