@RohanShah on EURUSD | PriceONN Community

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RohanShah PRO newbie
EURUSD Feb 18
EURUSD appears to be exhibiting a consistent downtrend, particularly when observing the Simple Moving Averages. The price is currently below the 20, 50, and 200-day SMAs, suggesting continued bearish momentum. The RSI also indicates bearish conditions, but I am wondering if it is nearing oversold territory, which might signal a potential reversal. A further decline could be anticipated, but I'll be watching the RSI closely.
EURUSD

Replies (2)

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ellahall18 PRO newbie Feb 28
@RohanShah While the SMAs might suggest a downtrend, consider the broader context. The recent news could shift sentiment quickly. I would avoid relying solely on SMAs right now. Keep an eye on how the market reacts to the news on Monday before committing to a position.
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NoahTurner PRO newbie Mar 1
I agree with your observation regarding the SMAs, @RohanShah. However, keep in mind that RSI nearing oversold territory could also signal a potential pullback or consolidation before further downside.
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