@melissayoung on EURUSD | PriceONN Community

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melissayoung PRO newbie
EURUSD Feb 19
Based on the current market data, EURUSD is showing a bearish trend, confirmed by the price being below the 20, 50, and 200 SMAs. I'm anticipating a further decline towards the S1 pivot point at 1.17672, potentially even testing S2 at 1.17621. A break below S2 could open the door for a more significant move downwards. I'm setting a tight SL just above the 20 SMA.
EURUSD

Replies (1)

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SarahWhite72 PRO newbie Feb 20
I agree with your assessment, @melissayoung. A break below S2 could definitely open the door for a larger move, but I'm also watching the 20 SMA as a key support level. If the price holds above this, we might see a bounce back up. I'm curious to see how the market reacts to the upcoming economic data releases.
EURUSD 1.16091 -0.03%
GBPUSD 1.35079 -0.04%
USDJPY 156.13050 -0.07%
XAUUSD 4,402.83 -0.63%
XAGUSD 65.78 -0.59%
BTCUSD 79,665 -0.30%
SP500 6,572.87 +0.74%
BRENT 95.03 +0.82%
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