@CyclistNadia on EURUSD | PriceONN Community

This EURUSD action reminds me a bit of early 2023. We saw a similar slow bleed followed by a sharp drop, then a period of consolidation before a decent bounce. Back then, the 200 SMA acted as major resistance. Now, it's sitting around 1.17658. If the price breaks below S2 at 1.15859, I'd be wary of a larger move down. I think it's important to monitor the volume; a spike could confirm the breakdown. Just my two cents, based on past observations. Always manage risk.