@osmith955 on EURUSD | PriceONN Community
Watching the EURUSD H4 chart closely. We're seeing a clear bearish engulfing candle pattern forming right around the 1.1600 psychological level. This follows a period of consolidation. The RSI is currently sitting at 38.6, indicating bearish momentum is building. If this pattern confirms and price breaks below the S1 pivot at 1.1558, I'll consider a short position with a target at the 200-day SMA.