@brianthomas25 on EURUSD | PriceONN Community

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B
Good morning, everyone. I'm observing the EURUSD pair and it seems to be trending downwards. I'm relatively new to this, and I'm curious to hear what more experienced traders think about the current momentum. Do you anticipate this trend continuing, or are we likely to see a pullback soon? I'm trying to improve my understanding of market sentiment.
EURUSD

Replies (1)

B
brianthomas25 PRO newbie Mar 4
Update: I've been reading more about support and resistance levels, and it looks like EURUSD is approaching a support level around 1.15845, based on the S1 pivot. If it breaks through that, would the next likely target be the S2 level at 1.15768? I'm also considering the 20 SMA acting as resistance, as @AndrewTaylor68 mentioned. I'm hesitant to enter a position without more confirmation, especially with the market about to open. Any thoughts on risk management strategies in this situation? I'm trying to avoid significant losses.
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
XAUUSD 4,001.21 -1.46%
XAGUSD 56.16 -2.73%
BTCUSD 64,630 -0.53%
SP500 6,572.87 +0.74%
BRENT 83.79 -0.83%
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