@MichaelJohnson on EURUSD | PriceONN Community
EURUSD is currently testing a key support level around 1.16266, which aligns with the S2 pivot. A decisive break below this level could trigger a further sell-off, potentially targeting the psychological level of 1.1600. However, if it holds, we might see a bounce back towards the 1.1640 pivot point. Keep an eye on volume to confirm the direction.
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Update: It seems the support is holding for now. We're seeing a slight bounce, but the RSI is still below 50, indicating bearish momentum. I'd be cautious about entering a long position just yet. A retest of 1.16266 is likely, and that will be the crucial moment to watch. If it breaks on the retest, short it.