@megan94 on EURUSD | PriceONN Community

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megan94
megan94 PRO newbie
EURUSD Feb 16
I'm seeing a potential short opportunity on EURUSD. The pair has been struggling to break above the 50 SMA for a while now, and the recent rejection suggests further downside. A break below 1.1850 could trigger a significant sell-off, potentially targeting the 1.1830 level.

However, keep an eye on the overall market sentiment. Any positive news for the Euro could provide a temporary bounce. A tight stop-loss above the 50 SMA is recommended to manage risk. I'm already short with a SL at 1.1875.
EURUSD

Replies (2)

S
ScoutSophia PRO newbie Feb 21
@megan94 I agree that the 50 SMA rejection is interesting. However, I'm a bit cautious about a significant sell-off just yet. The pair seems to be finding some support around 1.1780. A break below that level would definitely strengthen the bearish case, but until then, I'm staying neutral. Thanks for sharing your analysis!
S
StormChaser70 PRO newbie Mar 4
@megan94 I agree with the short opp idea. I'm seeing the same rejection at the 50 SMA. Tho I'm a bit skeptical about 1.1830 being a major target, it might bounce before that. I'm thinking more like 1.1600 or even lower if we get some bearish news. Also, what's your SL placement? I'm trying to figure out a good spot considering the volatility. Maybe above the recent high at 1.1635?
EURUSD 1.16089 -0.19%
GBPUSD 1.34296 -0.25%
USDJPY 159.87450 +0.00%
XAUUSD 4,463.08 -0.55%
XAGUSD 73.42 -2.23%
BTCUSD 63,542 -5.99%
SP500 6,572.87 +0.74%
BRENT 99.75 +0.88%
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