EUR/USD Technical Strategy: Exit Long Position

Final Profit / Loss: +93 pips

We entered long EURUSD at 1.2934. Prices have now taken out rising trend line support set from early March, hinting at further downside ahead. We will book profits here and look for opportunities to re-enter the position in the days ahead. Near-term neckline support is at 1.2913.

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

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