EURUSD looking oversold on the RSI, but the trend is still bearish. I'm thinking a small bounce around 1.1835, then continuation down. Maybe a quick scalp opportunity for a few pips? Don't wanna get caught bagholding though lol.
Update: Watching the 1.1840 level closely. If it breaks convincingly, the short scalp is a go. SL around 1.1850. TP... well, let's see how greedy I'm feeling, maybe 1.1820. Remember, this is just a quickie, not a long-term relationship with EURUSD.
J
jwalker894PROnewbieFeb 26
@isabellathomas, I agree that the RSI suggests a potential bounce. However, the overall trend does seem bearish, so cautious risk management is certainly warranted for any short-term scalping opportunities.