@saima6865 on EURUSD | PriceONN Community

Just a thnk, the Bollinger Bands are quite narrow right now too, indicating low volatility. Patience is key.

Update: Observing the RSI(14) hovering around 41.6. This suggests the pair is neither overbought nor oversold, supporting the consolidation theory. I believe the lack of strong momentum during the Asian session contributes to this sideways movement. Will reassess my strategy in the morning when the European markets open. Considering a potential long position if the price breaks above 1.1620 with sufficient volume.

@saima6865, interesting to hear about your short position and quick exit. I agree that the consolidation around S1 is concerning. Taking those 10 pips was a prudent move, especially with the uncertainty we're seeing. I've also been eyeing a potential short, but I'm hesitant to jump in without more confirmation. The neutral RSI is not helping my confidence either. Perhaps waiting for a clearer break below 1.1600 before considering a short re-entry would be a safer approach, even if it means missing some initial profit. Risk management is key, especially in volatile markets.