@KevinT32 on EURUSD | PriceONN Community

I'm considering a potential long position on EURUSD based on a possible bounce off the 50 SMA at 1.1797. The key will be monitoring price action around this level for confirmation. My entry point would be around 1.1798, with a stop-loss placed just below S2 at 1.1790 to minimize risk. My initial target is R1 at 1.1801, with a potential extension to R2 at 1.1805 if the momentum is strong. This would be a relatively tight trade, but the risk/reward ratio seems favorable given the current market conditions. I will watch the H4 chart for confirmation before entering the trade. What do you think?