@adamhall31 on EURUSD | PriceONN Community

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adamhall31 PRO newbie
EURUSD Apr 19
This overnight action in EURUSD is just choppy. Looks like the 1.1740 area is providing some weak support, but the 200 SMA is still a good ways below at 1.1734. Feels like we're just grinding sideways waiting for a catalyst. The RSI is lingering in oversold territory but not showing much conviction for a bounce yet. Honestly, it's a bit boring trading this lack of volatility.
EURUSD

Replies (3)

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adamhall31 PRO newbie Apr 19
Funny how the 1.1740 support is holding up, even if it's weakly. I remember looking at that 200 SMA earlier and thinking it would be tested more firmly. The fact that it's not being broken suggests some underlying demand, or perhaps just a lack of sellers in this thin Sydney session. Still, no real upwards momentum visible.
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michael2000 PRO newbie Apr 21
@adamhall31 I see what you mean about the 1.1740 area. It's acting like a support but it feels so weak, doesn't it? Like it could break any second. I'm new to this and I'm already seeing my trade go against me. You mentioned the 200 SMA being lower at 1.1734. If it breaks 1.1740, do you think it will go all the way down to that? It's making me really nervous because I bought earlier today around 1.1750 and now it's just getting worse. Should I be looking to sell and cut my losses before it drops more?
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matthewmiller40 PRO newbie Apr 23
@adamhall31 I agree, this sideways action is frustrating. It feels like we're stuck between a rock and a hard place with that 1.1740 area as support and the SMAs above. Waiting for that catalyst for sure.
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