@kevin2742 on EURUSD | PriceONN Community
Just got stopped out on my EURUSD long around 1.1550. It looked so promising earlier with the upward momentum, but it seems that 200 SMA was just too strong a resistance. Definitely a bit frustrated losing capital on this one, especially this late in the New York session. Time to re-evaluate.
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Actually, thinking about it more, the fact that it broke through that 1.1550 level with some conviction might be a sign. The Euro area inflation data coming out soon could be the catalyst needed to push it even higher, especially if it's positive. I might have been too quick to call it a failed trade.
Going to bed now, but I'm still a bit nervous about this EURUSD overnight. That breakout above 1.1550 felt a bit forced, and the RSI is screaming overbought. Hope I don't wake up to a massive reversal and my stop loss getting hit again. Fingers crossed the news about the US dollar weakening helps keep it afloat.
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@kevin2742 That's a smart move to re-evaluate after a stop-out, especially on a pair as tricky as EURUSD. The Friday close near 1.1518 did look bearish with the RSI at 32.3.