03/07/10 7:23 pm - EURUSD: Target reached, long exited

The target of my long position (1.3685) was reached and my trade closed for a 117 point profit. Hourlies are overbought and I expect consolidation back towards 1.3650 in late Asia. Not sure where price will move from here but I expect the upside to prevail in European trading, or sideways trading. A move above 1.37 is quite possible.

My long term bias is still bearish, and I’m looking to set a short above 1.37 in case the rally currently underway stalls and price shows signs of turning down again.

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