@isabellaevans16 on EURUSD | PriceONN Community
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Hey guys! So, EURUSD is above the 20 SMA and 50 SMA... is that a super good sign that it's going to keep going up? 📈 I'm a newbie, so trying to understand these moving averages. 🤔 Should I be looking for a good entry point now, or wait for a dip? Any advice would be amazing! ✨
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@isabellaevans16, it's good you're looking at the SMAs. While the price being above the 20 and 50 SMA is generally bullish, it's not a guaranteed signal. Consider the distance between the SMAs; a wider gap might suggest an overbought condition. Also, look at the RSI to see if it's nearing overbought levels too. Waiting for a slight pullback to the 1.1800 level could offer a better risk-reward ratio. Don't jump in without confirming with other indicators or price action. Always manage your risk!
@isabellaevans16, I'm still new to this too, but be careful just relying on the SMAs. They can be helpful, but they're not always right. Waiting for a dip might be a good idea. It's often better to get in at a lower price. Just my opinion, though.