@kgarcia82 on EURUSD | PriceONN Community
EURUSD looking kinda weak imo 🤔. RSI below 40 usually means more downside, right? I'm seeing some folks talking about a bounce, but I'm not convinced yet. Might wait for a clearer signal before jumping in. What do you guys think?
Replies
Update: Seeing a little bounce now, but still bearish overall. Maybe a small pullback before another drop? 🤷♂️
G
Hey @kgarcia82, I kinda agree with you! EURUSD does seem weak. RSI is definitely showing oversold conditions, but sometimes it can stay there for a while before bouncing. I think waiting for a confirmation is a good idea. Maybe look for a bearish candlestick pattern on the H4 or D1 chart before shorting. A break below S2 pivot at 1.18076 would be a pretty strong signal imo. Good luck!
R
@kgarcia82 I hear ya on the weakness vibe, but the RSI on H4 is actually around 52, not below 40 right now. So it's more neutral than outright bearish on that timeframe. While a bounce is possible, I'm kinda skeptical unless we see some strong volume confirmation. Waiting for a clearer signal is smart, especially in this choppy market.