EURUSD: closed short at 1.3294, -39 pips

14.05 gmt

EURUSD has broken through its day high and my mental stop. I’ve closed the short at 1.3294 for -39 pips.

There is a downtrend line here, from early August, which is holding the Euro down.  I still suspect this pair will close the NY session below 1.3295, i.e. below the trendline resistance.

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2 thoughts on “EURUSD: closed short at 1.3294, -39 pips

  1. Johannes

    Hi there Zen. Just a question about your trading. Why dont you use StopLoss and LimitProfit settings? You initially defined an stop of 1.3305. Why don’t you stick to that value?

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    1. ZenFXTrader

      As the previous comment says, there is an inverse H&S on the hourly (which I had missed earlier). With an hourly close above 1.3290 that pattern is completed and should lead EU to around 1.3350. There is trendline resistance at 1.3295 which may hold the pair down, but on balance I reckon the risk is that EU will go higher, hence the change in my SL to 1.3290.

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