@melissaperez93 on EURUSD | PriceONN Community
Seeing EURUSD so oversold makes me think about a potential long position. RSI is super low. But I'm wondering if the 'smart money' is waiting for a clearer signal, maybe a break above the 20 SMA? What's everyone's take on using the 20 SMA as confirmation for a long entry here?
Replies
Also, with the dollar gaining strength from geopolitical tensions, a confirmed break above the 20 SMA might signal a genuine shift in momentum, not just a short-term bounce. Could be a good opportunity to 'buy the dip' if it happens. Still cautious though, stop losses are key.
@melissaperez93 I think waiting for a break above the 20 SMA is a good idea. It could provide more confirmation that the downtrend is over. I am new to all of this, but it seems like a reasonable approach. Especially with the DXY being so strong right now!