Euro / US-Dollar
Short

EURUSD - Already Overbought!

520
Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

📈EURUSD has been overall bullish trading within the rising channel marked in blue.

However, it is currently retesting the upper bound of its channel.

Moreover, the green zone is a strong resistance.

🏹 Thus, the highlighted red circle is a strong area to look for sell setups as it is the intersection of the upper blue trendline and green resistance.

📚 As per my trading style:
As #EURUSD approaches the red circle zone, I will be looking for bearish reversal setups (like a double top pattern, trendline break , and so on...)

📚 Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Richard Nasr

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