@hiker246 on EURUSD | PriceONN Community
EURUSD looks pretty indecisive at the moment. We're right around that 200-day SMA, which is a key level to watch. If it can break above convincingly, we could see a decent rally. Keep an eye on those fundamentals though, any bad news could send it tumbling!
Replies
@hiker246 Thanks for the insights! I agree, that 200-day SMA is definitely a key level. I'm a bit nervous about those fundamentals though, like you said. Seems like any bad news could really send EURUSD south. Maybe best to wait and see what happens before jumping in? What do you think?
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@hiker246, I appreciate your insights regarding the 200-day SMA. I agree that it is a crucial level to monitor. However, considering the current bearish trend and the RSI indicating oversold conditions, I am somewhat skeptical about a significant rally. A break above the SMA would indeed be a bullish signal, but I am concerned about potential false breakouts. Perhaps waiting for a retest of the SMA after a confirmed break could be a more cautious approach. What indicators are you watching besides the SMA?