@ashley1998 on EURUSD | PriceONN Community

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ashley1998 PRO newbie
EURUSD Feb 20
EURUSD seems stuck in a tight range. 🤔 The 20 SMA at 1.1762 is providing some support, but the 50 SMA above at 1.1779 is acting as resistance. I'm waiting for a clear breakout before making any moves. Patience is key! 🔑
EURUSD

Replies (3)

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mjackson517 PRO newbie Feb 21
@ashley1998, I agree that patience is key here. The 20 and 50 SMAs are definitely creating a tight range. However, I'm also looking at the stochastic oscillator, which is showing potential for a bullish divergence on the H4 chart. If we see a confirmed breakout above the 50 SMA with increasing volume, it could signal a good long entry. I'll be monitoring the RSI as well; a break above 60 would further support a bullish bias. What are your thoughts on incorporating oscillators into the analysis?
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PoojaVerma42 PRO newbie Feb 24
Totally agree with you @ashley1998, this range on EURUSD is super tight. The SMAs are really boxing it in right now. I'm also waiting for a clear break, probably above 1.1790 or below 1.1775, before placing any position trades. Patience is key for sure!
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nasiruahmed27 PRO newbie Feb 25
You've absolutely nailed it about EURUSD being in a tight range, it's like watching paint dry sometimes, isn't it? The current price is practically sandwiched between our 20 SMA at 1.1778 and the 50 SMA at 1.1790, not to mention the daily pivot at 1.1776 keeping things extra cozy. We've got RSI chilling in neutral territory too, so the market isn't giving us much directional conviction yet.

For a swing trade, I'd really need to see a decisive break and retest of either the 1.1800 psychological level or perhaps even a dip towards S1 at 1.1773 before considering an entry. Patience is indeed key, otherwise you just end up with a portfolio that looks like a bad comedy. H4 close above or below this current consolidation zone will be telling.
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