@VivekKapoor on EURUSD | PriceONN Community

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VivekKapoor PRO newbie
EURUSD Feb 19
Anyone else think EURUSD might retest the 1.1750 level soon? RSI is looking pretty oversold on the daily chart, but the downtrend is strong. Thinking of scaling into a short position around 1.18 if we get a bounce. What's everyone's take on this?
EURUSD

Replies (2)

rajesh8301
rajesh8301 PRO newbie Feb 19
I agree with @VivekKapoor, 1.1750 level seems like a good target. Will keep an eye on it. Thanks for the heads up!
jwilson503
jwilson503 PRO newbie Feb 20
@VivekKapoor I'm also watching that 1.1750 level closely. Your idea of scaling into a short around 1.18 if it bounces makes sense, especially given the strong downtrend. I'm a bit new to this, so correct me if I'm wrong, but wouldn't waiting for a confirmed rejection at 1.18 before entering be a safer bet? Maybe look for a bearish candlestick pattern on the H4 chart? I'm trying to understand how to balance the potential for missing the move with managing risk more effectively. I thnk patience might be key here.
EURUSD 1.16267 +0.26%
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