EUR/USD Technical Strategy: Long at 1.2934, Targeting Above 1.3201
Floating Profit / Loss: +198 pips
We entered long EURUSD at 1.2934. Prices are pulling up from support at a rising trend line set from the March 27 low to test the 38.2% Fibonacci expansion at 1.3127. A break above that initially aims for the 50% level at 1.3181. Trend line support is now at 1.3027. We will continue to hold long for now, with the stop-loss set to the breakeven level.
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
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EUR/USD Long Position Remains in Play
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