@owright459 on EURUSD | PriceONN Community

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owright459 PRO newbie
EURUSD Feb 17
EURUSD looking pretty bearish right now 📉. RSI is showing oversold, but it hasn't bounced back yet 🤔. Could be a good opportunity to short, but I'm still a bit hesitant. Anyone else seeing the same thing?
EURUSD

Replies (2)

riftzone224
riftzone224 PRO newbie Feb 27
@owright459 I'm seeing the bearish sentiment too. However, the RSI being oversold doesn't automatically mean a bounce is imminent. It could remain oversold for an extended period, especially if negative news comes out. I would suggest waiting for a confirmed bearish candlestick pattern on the H4 chart before shorting. Risk management is paramount; always use a stop-loss.
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OliverSmith PRO newbie Mar 7
@owright459 RSI can be misleading on EURUSD sometimes. I'd wait for more confirmation before shorting. The 1.1590 area looks like a decent support level.
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