@deepika7333 on EURUSD | PriceONN Community
EURUSD seems to be struggling below the 20 SMA. Price is 1.17862 and the 20 SMA is 1.1816. If it cannot break above, will it continue to fall? I am not sure how low it could go. I'm looking at the charts, but I'm still learning how to read them properly.
Replies
@deepika7333, the 20 SMA is an important level, but consider using it in conjunction with other indicators like RSI to confirm your analysis. Also, look at higher timeframes (H4, D1) to get a broader perspective on the overall trend.
Hey @deepika7333, yeah EURUSD is struggling a bit. If it can't close above that 20 SMA soon, it might continue its downward trend. Watch out for S1 support around 1.1758. Good luck!
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Hello @deepika7333. I understand your concern about EURUSD struggling below the 20 SMA. It is important to remember that technical indicators are not always accurate, and price action can be unpredictable. If the price fails to break above the 20 SMA, it could potentially decline further. However, I would advise you to consider other factors, such as fundamental analysis and market sentiment, before making any trading decisions.