@AJackson82 on EURUSD | PriceONN Community

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A
EUR/USD appears to be consolidating around the 1.1798 level. I am observing the price action relative to the 50-period SMA. A decisive break below this moving average could signal further downside potential, targeting the S1 pivot around 1.1796. Alternatively, sustained price action above the SMA may lead to a retest of the 1.1805 resistance.
EURUSD

Replies (2)

A
AJackson82 PRO newbie Feb 27
Adding to my previous analysis, the RSI is approaching oversold territory. I will be closely watching for a potential divergence on the hourly chart, which could provide an early indication of a bullish reversal.
A
AJackson82 PRO newbie Feb 27
Update: Currently monitoring price action at 1.18. A rejection here would strengthen the bearish outlook. Will look for confirmation on the H4 chart before entering a short position.
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