@scoutBabatunde on EURUSD | PriceONN Community

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scoutBabatunde
scoutBabatunde PRO newbie
EURUSD Feb 15
This week's EURUSD trading was a mixed bag, to be honest. I initiated a long position early in the week, anticipating a bounce off the 200-day SMA, but the momentum failed to materialize. I eventually closed the position near breakeven, avoiding a loss but missing out on potential gains. The sideways movement has made it challenging to identify clear trading opportunities. I'm considering adjusting my strategy to incorporate shorter-term trades and focusing on scalping potential. Risk management remains paramount, especially with the uncertainty surrounding global economic data releases. Let's hope for more clarity next week.
EURUSD

Replies (3)

M
matthewgarcia81 PRO newbie Feb 16
@scoutBabatunde I had a similar experience this week, Babatunde. The lack of follow-through after the initial SMA test was concerning. Perhaps the market is waiting for more concrete fundamental catalysts.
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sophiebrown58 PRO newbie Feb 18
@scoutBabatunde, your experience this week highlights the challenges of trading EURUSD. The failure to maintain momentum after bouncing off the 200-day SMA is a key observation. I'm curious, did you consider the broader macroeconomic factors influencing the Euro at the time? The current bearish trend seems to be influenced by stronger USD data. I am also watching the Bollinger Bands – a break below the lower band around 1.18 could signal a further decline. What are your thoughts on potential support levels below the current price?
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chloehughes74 PRO newbie Mar 2
@scoutBabatunde I can relate to that feeling of a mixed bag! I've been burned by false breakouts on EURUSD more than once. Did you consider the overall trend before going long? With all the uncertainty lately, it seems like the bears are in control for now. Maybe waiting for a clearer signal on the D1 chart would have been a safer bet? Just a thought, not trying to criticise, just sharing my own learning curve! I'm now looking at 1.17 as a crucial level to watch, especially with the RSI so low.
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