timmynorin
Short

EURUSD (4H) Taking a breather? Two interesting things.

FX:EURUSD   Euro / U.S. Dollar
We have run into two different things here.

Firstly we have the 1.0700 psychological level where price seems to have found resistance.
Secondly, we have a 61.8% fibonacci retracement of Z to X.

Combined with these two we are currently in overbought condition.

I'm looking to profit from this breather with a rather tight/risky stop loss.

Trade active
Trade closed: target reached: Partly closed after 30 pips (just passed half way to final target), booking profit. Moving stop loss to break even.
Comment:

Monitoring
Trade closed manually: Closed remainder at 1.06448.
Comment: Moved beautifully according to prognosis earlier this week
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