@SOmar72 on EURUSD | PriceONN Community
Is anyone else seeing a potential repeat of the EURUSD pattern from early last month? We had a similar consolidation period followed by a sharp bearish move. Currently observing RSI(14) at 40, which is a neutral signal, but the bearish trend could gain momentum if it breaks the S1 pivot at 1.16898. I'll be monitoring volume closely for confirmation.
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Update: The SMA20 at 1.17037 is acting as a significant resistance point. If EURUSD fails to break above this level in the next few hours, I anticipate a further decline towards S2 at 1.16834. I'm considering a small short position if we see a clear rejection at the SMA20, targeting S2 for TP.