@MichaelJohnson on EURUSD | PriceONN Community

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MichaelJohnson
MichaelJohnson PRO newbie
EURUSD Mar 5
EURUSD is currently testing a key support level around 1.16266, which aligns with the S2 pivot. A decisive break below this level could trigger a further sell-off, potentially targeting the psychological level of 1.1600. However, if it holds, we might see a bounce back towards the 1.1640 pivot point. Keep an eye on volume to confirm the direction.
EURUSD

Replies (1)

MichaelJohnson
MichaelJohnson PRO newbie Mar 5
Update: It seems the support is holding for now. We're seeing a slight bounce, but the RSI is still below 50, indicating bearish momentum. I'd be cautious about entering a long position just yet. A retest of 1.16266 is likely, and that will be the crucial moment to watch. If it breaks on the retest, short it.
EURUSD 1.14436 -0.13%
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USDJPY 162.42862 +0.16%
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