@eTaylor26 on EURUSD | PriceONN Community
Anyone else concerned about the long-term implications of EURUSD's consistent failure to break above the 200 SMA? I'm looking at the D1 chart and it's been acting as pretty solid resistance for a while now. Wondering if this is indicative of a larger economic trend or just short-term volatility. Thoughts?
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Update: I've also noticed a bearish divergence forming on the MACD. It's not a perfect signal, but combined with the SMA resistance, it's making me lean towards a short position. Still doing some research on potential catalysts before I pull the trigger though. Anyone else spotting similar patterns?
G
Hi @eTaylor26, that's an interesting point about the 200 SMA. I've noticed it too on the D1 chart. As a beginner, I'm still trying to understand how much weight to give these longer-term indicators. Is it usually a strong signal if the price consistently fails to break through? I'm also wondering if the RSI is giving any clues. It seems to be hovering around neutral, so maybe no clear direction yet? Need to do more research on this.
S
@eTaylor26 The inability to sustain above the 200 SMA on the D1 is indeed concerning. It suggests persistent selling pressure and a potential shift in the long-term trend. Keep an eye on fundamental data releases for confirmation.