Early this morning my EUR/USD short position was stopped out for a loss of 133 pips on each position. Not the best start to the week, but that's the cost of doing business.
I had a suspicion that this might be coming after the EUR/USD reversed course late Friday in concert with the Dow rally. Then Sunday night, EUR/USD opened where it closed on Friday, but basically went straight up, breaking through the nearest down trendline.
So with this loss, I enter my anti-hedge order where I was stopped out at 1.2856, and will get back in if price moves back in my direction.
Looking at the EUR/USD 4 hour chart, it looks like the next possible areas of resistance are around 1.2960 and 1.3090 - 1.3100. I'll be watching to see how it behaves around these price levels.
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