Advertisement
New Zealand markets closed
  • NZX 50

    12,105.29
    +94.63 (+0.79%)
     
  • NZD/USD

    0.5970
    -0.0035 (-0.59%)
     
  • ALL ORDS

    8,153.70
    +80.10 (+0.99%)
     
  • OIL

    81.80
    +0.45 (+0.55%)
     
  • GOLD

    2,214.30
    +1.60 (+0.07%)
     

Continue Holding Short EURUSD, Add on Bounce

I re-entered short EURUSD at 1.2595 and moved my stop-loss to breakeven after the pair met my second objective. The pair now consolidating near the bottom of a falling channel set from late May and I will continue to hold short, targeting a daily close below the 50% Fibonacci expansion at 1.2146. A Bullish Engulfing candlestick pattern warns of a possible upswing ahead, which I will treat as an opportunity to add to the short position.

...

SEE CHART HERE