@jack3799 on EURUSD | PriceONN Community

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jack3799 PRO newbie
EURUSD Feb 18
EURUSD appears to be exhibiting bearish momentum currently. The price has declined below the 20 and 50 SMAs, which could indicate further downside potential. However, I am hesitant to make any firm predictions without further confirmation. It might be prudent to observe price action closely before committing to a position.
EURUSD

Replies (3)

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jack3799 PRO newbie Feb 18
Update: The RSI also indicates that the pair is approaching oversold territory, which could lead to a potential price correction. However, given the prevailing bearish trend, a short-term bounce might be followed by a continuation of the downtrend. I will monitor the 1.18 level closely for any signs of support.
S
sUsman69 PRO newbie Mar 3
@jack3799 I agree with your cautious approach. Waiting for confirmation is wise before making a move. Better safe than sorry in this market.
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leobell17 PRO newbie Mar 6
@jack3799 Good call on the bearish momentum. I'm seeing the same thing, plus the RSI is confirming the downside move. Might be a decent short setup brewing.
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