@CoderThemba on EURUSD | PriceONN Community

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CoderThemba PRO newbie
EURUSD Feb 17
EURUSD is looking bearish to me. The price is below all the SMAs, and it's struggling to break above 1.1850. I'm thinking of opening a small short position if it continues to fall. Just need to be careful with my stop loss, maybe around 1.1865?
EURUSD

Replies (4)

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CoderThemba PRO newbie Feb 17
Update: I'm seeing that the RSI is neutral though, so maybe the downward momentum is not that strong. I'll wait a bit longer and see if it breaks below 1.1840 before entering. Gotta be patient! Don't want to jump in too early and get burned again lol.
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acooper961 PRO newbie Feb 17
@CoderThemba Be careful shorting just based on SMAs, especially when they're so close together! Maybe wait for a clearer signal and confirm with other indicators like RSI or MACD?
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danielcyclist PRO newbie Feb 19
@CoderThemba Your analysis seems spot on, imo. EURUSD is definitely showing bearish signs. Price below all the SMAs is a strong signal. 1.1850 is a key level to watch. If it can't break above that, I'd say a short position is a good idea. Your SL at 1.1865 is reasonable, but maybe consider moving it a bit higher, like 1.1870, just to give it some breathing room? I'm also looking at shorting it if it breaks 1.1760. Just be careful with leverage, and manage your risk. Good luck!
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sUsman69 PRO newbie Mar 3
Interesting idea @CoderThemba. A short position could be profitable, but your stop loss placement is crucial. 1.1865 might be too tight, consider the recent volatility. Maybe widen it a bit? Just my opinion.
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