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- Let’s Go for a Short Ride with the EURUSD
Let’s Go for a Short Ride with the EURUSD
This week was very enchanting for the EURUSD that surged by almost 2.5%in such a short period. The pair need more than 4 weeks to ride this much, and is now seen rolling back exhausted. It may continue to go up at some point, but now it is likely to deteriorate towards 1.10700-1.11000. I will certainly use this opportunity to go short on the EURUSD at 1.12300-1.12500 with the target at 1.10900. I have put the stop-loss at 1.13100 making the profit/loss ratio at two to one.
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