EURUSD Short Daily. Price meeting resistance at previous highs.

The EURUSD is reaching levels where previous Euro selling was strongly met. A similar situation is happening at these levels. The RSI is also indicating overbought situations and is falling with a bearish divergence relative to price (Orange RSI trend line). If price does recover to the Red resistance line at 1.207 to 1.21 sell there with stops anywhere from 1.212 to 1.217 (depending on your Money Management profile). Should price not reach back up to these levels set a sell order at 1.2 for breach of lower support area.

Take profits to be decided later, but they may be as low as the 1.55 area.

Komentar:

Moving stop loss to entry price.