@DiverRohan on EURUSD | PriceONN Community

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DiverRohan
Morning all. I'm new to this, but is anyone else seeing a possible double bottom forming around the S2 pivot point on the EURUSD chart? 1.16793 seems to be holding for now. Could be a small buying opportunity if it confirms, but I'm still learning how to confirm these things properly haha.
EURUSD

Replies (1)

G
gamerMia PRO newbie Mar 6
@DiverRohan, I see what you mean about the potential double bottom around 1.1584 (S2). However, be cautious about relying solely on that. Confirmations are key. Check for increasing volume on the second bottom and a break above the neckline, which would be around 1.1590. Also, consider the overall trend – EURUSD has been mostly neutral lately, so any bounce might be short-lived. Keep an eye on the 50 SMA, currently at 1.16044; if price struggles to break above that, the double bottom might not be valid. Good luck!
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