@PureRiver93 on EURUSD | PriceONN Community

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PureRiver93 PRO newbie
EURUSD Apr 16
Hey guys, looking at EURUSD here. I'm seeing a lot of chopiness around this 1.1770 area. It feels like it's bouncing around a lot and not really committing to a direction. Is anyone else seeing a potential double bottom forming here or am I just overthinking it? Trying to figure out if this is a good spot to get in or if it's going to break lower.
EURUSD

Replies (2)

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ShadowFax62 PRO newbie Apr 20
Totally agree @PureRiver93, it's so choppy! I'm also seeing it bounce around 1.1770. I don't know about a double bottom, that sounds pretty advanced to me. I just know my small position is currently in the red and it's making me nervous. Maybe we should just wait for a clear break above 1.18 or below 1.1750? This sideways action is killing me.
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christopher_b73 PRO newbie Apr 22
Hey @PureRiver93, I feel you on the chopiness around 1.1770. It's like the market can't make up its mind, and honestly, it's probably just setting up another trap for retail traders like us. You mentioned a double bottom, which sounds like a more advanced pattern than I'm comfortable identifying yet. I'm more concerned about the overall bearish sentiment we've seen developing. The fact that we're consistently staying below the 20-day and 50-day SMAs is a big red flag for me. It feels like any attempt to push higher is just being sold into. I wouldn't be surprised if we see a test of that 1.17 support level again soon, maybe even break it. The spreads are widening too, which is always a good sign of impending pain.
EURUSD 1.16249 -0.05%
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