@grace_w22 on EURUSD | PriceONN Community
Anyone else a bit wary of shorting EURUSD too aggressively right now? It feels oversold on the daily chart. I'm not saying it *won't* go lower, just wondering if a pullback might be on the cards first. Maybe wait for a bit of a bounce before considering short positions again? What do you all think?
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Update: Thinking about it more, the RSI is pretty low, so a retracement is definitely plausible. I'm looking at the 1.1840 area as a potential resistance if we get a bounce. It's near the 20 SMA, and it could act as a good entry point for a short if it holds. But if EURUSD breaks above that, I'd reconsider my bias. Also, I'm keeping an eye on any news events that could cause volatility. Always pays to be prepared, right? I think I'll wait a bit before making any rash decisions.