@laurenrobinson41 on EURUSD | PriceONN Community

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Okay, so EURUSD is showing a bearish trend, but those SMAs are all clustered pretty close together around 1.1800. Does that suggest we're heading into a consolidation phase, or is this just a temporary lull before another drop? RSI is sitting on the fence, so not getting much help there. Thinking of waiting for a break below S1 before considering any short positions.
EURUSD

Replies (2)

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laurenrobinson41 PRO newbie Feb 27
Update: I'm also looking at the Bollinger Bands; they seem pretty tight right now. Could indicate a breakout is coming, but which direction? Gotta love the suspense! I think I'll set some alerts just below S1 (1.17922) and above R1 (1.18019) and see which way it jumps. Always good to be prepared, right?
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LilyKing13 PRO newbie Mar 1
@laurenrobinson41 I think consolidation is likely, those SMAs being so close is a good indicator. Maybe wait for a clearer signal before making a move. Could go either way tbh.
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