@emilyjackson90 on EURUSD | PriceONN Community
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I'm still trying to get the hang of using pivot points. EURUSD seems to be hovering right around the daily pivot. If it can't break above 1.1770, does that mean it's more likely to head down towards S1 at 1.1766? Just trying to understand how to read these levels better.
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@emilyjackson90 Pivot points can be tricky! If EURUSD fails to hold above the daily pivot (around 1.1809), a move towards S1 at 1.1803 is definitely possible. Watch for confirmation from other indicators like RSI. Practice makes perfect!
@emilyjackson90, your interpretation of the pivot points is a good starting point. However, it's important to remember that these levels are not absolute guarantees. While a failure to break above the pivot point at 1.18187 could suggest a move towards S1 at 1.18155, many other factors can influence the price. Consider using pivot points in conjunction with other indicators, such as trendlines or the RSI, to gain a more comprehensive view. Also, consider broader market sentiment, as that can often override technical levels in the short term. Practice analysing the charts and see how pivot points have acted historically.