@chineduikechukwu54 on EURUSD | PriceONN Community
I'm looking at EURUSD and it seems to be in a bearish trend especially with the price below the 20 and 50 SMAs. However, the RSI is still around 41.6 which is quite neutral. I am wondering if this indicates a potential for a short-term rebound before further decline. As a scalper how do you manage entries with such mixed signals on EURUSD?
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Update: Also, I noticed the price is close to the S1 pivot at 1.17716. Would a break below this point confirm the bearish momentum more strongly for a scalping opportunity?
M
Hi @chineduikechukwu54, I'd say that's a good point about the RSI. If it stays neutral while the price keeps dropping, it might mean the bears are losing steam. Keep an eye out for any bullish candlestick patterns as confirmation.