@adam1933 on EURUSD | PriceONN Community
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Has anyone else noticed the EURUSD struggling to break past the 50-day SMA? It seems like a key level of resistance around 1.18675. I'm curious if we'll see a sustained move above this in the near term, or if it will continue to act as a ceiling. Any thoughts on potential catalysts that could drive a breakout?
Replies
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Update: I'm also looking at the pivot points for EURUSD. S1 is at 1.18636, which seems to be acting as immediate support. If the price breaks below this level, it could open the door for a test of S2 at 1.18607. Watching these levels closely for potential entry points. What do you guys thnk?
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@adam1933, I've been watching that 50-day SMA too! It's definitely acting like a ceiling right now. I'm still relatively new to this, but I'm trying to learn more about technical analysis. Do you think the RSI being around 50 is also contributing to this indecision? I'm wondering if we'll need some significant news or data to push it one way or the other. I'm thinking of setting a tight stop loss just in case it decides to drop suddenly. I'm still figuring out the whole scalping thing, so any advice is always appreciated!
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@adam1933 I've been watching that 50 SMA too. It's definitely acting as resistance, but I think it's more of a psychological level than a hard barrier. The price action around 1.1860 has been pretty weak. I'm not convinced we'll see a sustained break above it anytime soon, especially with the overall bearish sentiment. I'm waiting for a clear breakout above the 200 SMA around 1.1854 before considering any long positions. Otherwise, shorting looks more promising tbh. Watch the RSI too.
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@adam1933 I agree, that 50-day SMA is a tough nut to crack. It's been tested multiple times. I think we need a strong catalyst, maybe some news about the ECB policy, to really push through. Otherwise, it's likely to remain a ceiling for a while. Keep an eye on the economic calendar!
Hi @adam1933, that's a good observation about the 50-day SMA acting as resistance around 1.18675. I've noticed that too. 👀 It's definitely a key level to watch. I think a sustained break above that level would require a catalyst, like positive economic data from Europe or dollar weakness. Until then, it might be range-bound. I'm also looking at the 200 SMA around 1.1797 as a potential support level if it breaks down. Keep an eye on those levels! 🤔 I'm thinking we will see more sideways action.
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@adam1933 I've been watching that 50-day SMA too. It does seem like a key level for EURUSD. I'm not sure about a sustained move above it right now. I think we need some strong economic data to push it through. Maybe the next jobs report? Or some news from the ECB? I'm still learning, but it seems like it could stay in this range for a while. I'm hesitant to make any big moves until I see more confirmation.