I took profits on the EUR/USD short into trendline support at 1.2725. The fact remains that EUR/USD is still triangled, so I want to wait for the market to show me that we're in fact breaking down. I am going to enter on the short side only after the 1.2700 level is history. Stops will be an even 50 points from entry prices and I will look to book profits on a partial position on a break below 1.2600.



Todd Gordon is a Technical Currency Strategist and Fund Trader with GAIN Capital Group.

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