Stumbling the EURUSD legs by the hour
Things have changed on the hourly chart.
- now overbought level in RSI again turns the hourly chart into neutral mode
- I would not say bullish mode (yet)
- the last & very swift up move calls for a correction, especially since it is meeting resistance
- the daily chart is more diffuse (see yesterday's daily)
Since this 1 hour chart is now also going neutral, possibly bullsih, on the next correction down, with target 1 = 1.1180, target 2 = 1.1070 I shall close my shorts on a 50/50 basis, giving me (in total) about a break-even exit to a slight profit on exit.
SHOULD the price action into 1.1070 be violent and bad (bad!) news, I may hold part of the shorts for a fun (risky) ride.
- now overbought level in RSI again turns the hourly chart into neutral mode
- I would not say bullish mode (yet)
- the last & very swift up move calls for a correction, especially since it is meeting resistance
- the daily chart is more diffuse (see yesterday's daily)
Since this 1 hour chart is now also going neutral, possibly bullsih, on the next correction down, with target 1 = 1.1180, target 2 = 1.1070 I shall close my shorts on a 50/50 basis, giving me (in total) about a break-even exit to a slight profit on exit.
SHOULD the price action into 1.1070 be violent and bad (bad!) news, I may hold part of the shorts for a fun (risky) ride.
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