I entered short EURUSD at 1.3526 on November 9 expecting the Eurozone debt crisis to continue to spread and moved my stop to 1.3231
after the pair met my secondary objective at 1.2872, aiming for the
next target at 1.2586. Prices took out resistance at the top of a
falling channel set from early November last week, hinting the correction I was waiting for
is gaining momentum. Near-term resistance begins at 1.3144. I will look
for the upswing to yield an opportunity to add to the trade, aiming for
renewed selling in the weeks ahead.
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