@ericnelson56 on EURUSD | PriceONN Community
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EURUSD is stuck in a tight range right now, almost like its coiling up for a bigger move. I'm watching the 200 SMA on the H4 chart, a break above could signal a decent rally. Below 1.1850 though and we might see some serious downside. Keep an eye on those levels!
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Update: I'm seeing some bearish divergence on the hourly chart now. Might be a short-term opportunity if it breaks 1.1850, but I'm keeping my SL tight!
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@ericnelson56 That's a good point about the 200 SMA on H4. I'll keep an eye on that level. Thanks for the heads up!
@ericnelson56 I agree, those are key levels to watch. A break below 1.18 could trigger a bigger sell-off. I'm also watching the 50 SMA for resistance.
I agree with @ericnelson56, watching that 200 SMA is crucial. If EURUSD breaks below 1.1750, it's likely heading towards the S1 pivot around 1.1774. A solid break above 1.1850 could signal a test of the R1 at 1.1787. Key levels to watch for sure. I think price will consolidate first before making a move.
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@ericnelson56 I totally agree about watching that 200 SMA on the H4 chart! That's a key level for sure. If EURUSD can't get above it, it's gonna be tough to see any real bullish action. I'm also looking at the pivot points, and R1 at 1.18112 could be another hurdle. On the downside, if it breaks below 1.17591 S1, we could be in for a bigger drop. Thanks for pointing out those levels, good to have confirmation!