@braveFern2 on EURUSD | PriceONN Community
I'm holding a small long position on EURUSD over the weekend. RSI is nearly at 60 which suggests some upward momentum might be building. However, the 200 SMA at 1.1841 is a significant resistance level to watch next week. I'll be monitoring closely for a potential breakout or rejection.
Replies
Just thinking about the potential for a gap open on Monday. Hopefully, it's not too drastic! Will adjust SL accordingly.
Update: I'm considering setting a tight stop-loss just below the S1 pivot at 1.17755 to manage risk. A break below that level could signal further downside. Also, I'll be paying attention to any news releases early in the week that could affect the Euro.
I'm also watching that 200 SMA on the EURUSD chart, @braveFern2. It's a formidable barrier, no doubt. Holding a long position over the weekend is a brave move, especially with the potential for a gap opening. I'm a bit more cautious. The RSI being near 60 is encouraging, but it could easily reverse if we get some bad news. I think taking partial profits near 1.1830-1.1840 might be a prudent strategy to reduce risk. Good luck though. Hope it goes your way!
L
Interesting perspective, @braveFern2. Holding over the weekend can be risky with potential gap openings. I'd suggest monitoring the Asian session closely on Monday to gauge initial market sentiment.