@eoghenekaro479 on EURUSD | PriceONN Community

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eoghenekaro479 PRO newbie
EURUSD Feb 24
I've been observing EURUSD closely. The current bearish trend is quite clear, but I am somewhat confused by the neutral RSI reading at 43.7. Does this suggest we might see a bounce soon, or is it merely consolidation before a further move down? The SMAs being above the current price also indicates potential resistance ahead.
EURUSD

Replies (2)

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eoghenekaro479 PRO newbie Feb 24
Following up on my earlier point, I am also looking at the 1.1770 area. With S2 located around 1.17714, I wonder if this level could provide a significant support. I am trying to understand the strength of these pivot points in relation to the current price action.
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jessica8317 PRO newbie Mar 4
@eoghenekaro479, a neutral RSI during a bearish trend can indicate either consolidation or weakening momentum. Look for confirmation signals like candlestick patterns or volume changes to determine the next likely direction. Don't rely on a single indicator.
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