@lnair407 on EURUSD | PriceONN Community

Update: SL at 1.1800 now. Tightening it up. Don't want to give back any profits if this reverses. Remember, trading is a marathon, not a sprint!

@lnair407 Yeah, I saw that too. That 1.1770 level is definitely something to watch. I'm not sure I'm brave enough to short it though. What kind of confirmation are you looking for on the RSI before you'd consider a short position? Is there a particular level you're watching for?

@lnair407, your point about the D1 candle close is interesting. If EURUSD closes significantly below the 50 SMA, does that increase the probability of a sustained downward move? As a beginner, I'm trying to understand how reliable that signal can be. Would you also consider the RSI divergence at this moment?

@lnair407, your observation about the D1 candle close is astute. I agree that a close below the 50 SMA would indeed signal a potential short opportunity for EURUSD. However, I am slightly hesitant given the proximity to the S2 pivot level at 1.16069, which could provide some support. Furthermore, the upcoming economic data releases could significantly impact the pair's direction. A cautious approach is warranted, perhaps waiting for a clearer confirmation before initiating a short position. It's important to balance technical analysis with fundamental factors in the current environment. Perhaps waiting for a retest of that broken SMA would be prudent.