Good Afternoon,
An update on EURUSD - previously it had broken out and I had gone long and see in longer term this is going up, price retraced down to the descending trend line and has bounced back up which is what was to be expected however I was worried there for a while as price hung about at the bottom of the channel that had formed.
I am still long and it is looking quite bullish of that explosion off the last hour candle! However price is approaching a key resistance level and the RSI is showing it is soon overbought so we will have to wait and see if it break this one.
Anybody else take the trade?
An update on EURUSD - previously it had broken out and I had gone long and see in longer term this is going up, price retraced down to the descending trend line and has bounced back up which is what was to be expected however I was worried there for a while as price hung about at the bottom of the channel that had formed.
I am still long and it is looking quite bullish of that explosion off the last hour candle! However price is approaching a key resistance level and the RSI is showing it is soon overbought so we will have to wait and see if it break this one.
Anybody else take the trade?