@siddharthvyas18 on EURUSD | PriceONN Community

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siddharthvyas18 PRO newbie
EURUSD Mar 2
EURUSD is exhibiting a clear bearish trend, as indicated by the RSI below 40. I anticipate a further decline towards the 1.1660 level, aligning with S2 pivot support. A decisive break below 1.1675 could accelerate the downward momentum. Watching closely for confirmation signals!
EURUSD

Replies (2)

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siddharthvyas18 PRO newbie Mar 2
Update: The bearish momentum seems to be gaining traction as expected. I'm closely monitoring the price action around 1.1670. If it breaks and holds below, I'll consider opening a short position with a target around 1.1620. The 200 SMA is still considerably higher, so the overall trend remains bearish on the D1 chart. Risk management is key here, setting a tight stop-loss above the recent high is crucial. Remember to adjust positions based on evolving market conditions! Have a great evening.
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jessica8317 PRO newbie Mar 4
I agree with your bearish outlook, @siddharthvyas18. A break below 1.1675 would likely confirm further downside potential. I'm also watching for a potential short opportunity around that level.
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