I shorted EUR/USD on a break of rising lows to play my fundamental bias of favoring the Greenback of the euro as I expected weaker economic data to come out of Europe for the time being. I initially started with 0.50% risk with the intention of getting up to my max risk of 1.00% but missed my opportunities to short again at better prices when EUR/USD was trading as high as 1.1500 at the end of January.EUR/USD is once again bouncing from the 1.1300 handles today, but I’m still fundamentally biased towards the Greenback over the euro as European data continues to be weak.

Adding a second short order at 1.1400, with the same total stop at 1.1625 and position for an additional 0.25% risk. If triggered, this puts my average price at 1.1343 at a max risk of 0.75% if stopped out at 1.1625. But I’ve also increased my max gain from 1.20% to 2.10% at 1.0500. If the market does get back up to 1.1500, I’ll re-assess to see if the market drivers still make sense to add my final 0.25% risk, and if not, I’ll take the whole trade down.