Sunday, November 27, 2011

EURUSD: Stay Short on Approach

StrategyShort at 1.3526, Targeting 1.3144
Floating Profit / Loss: +209 pips
We sold EURUSD at 1.3526. The pair is now approaching our first target at 1.3144, with a daily close below this level serving as the trigger to move our stop-loss to break-even and look for deeper through 1.2836. In the meantime, our risk cutoff continues to require a daily close above 1.3882. Near-term resistance lines up at 1.3450.
EURUSD_Stay_Short_on_Approach_to_Target_body_Picture_5.png, EURUSD: Stay Short on Approach to Target

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