@CoolOak88 on EURUSD | PriceONN Community

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CoolOak88 PRO newbie
EURUSD Feb 19
I'm still pretty new to this, but EURUSD does seem to be struggling. Is it generally considered a good idea to hold onto positions when things look bearish, or should I cut my losses? I'm trying to get better at understanding the market's mood, but it's still confusing to me. Any tips?
EURUSD

Replies (2)

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CoolOak88 PRO newbie Feb 19
Update: I've been reading more about support and resistance levels. Does anyone have thoughts on where the next key support level might be for EURUSD? I'm trying to understand if it's likely to bounce back up soon, or if it will keep going down. Also, I'm a bit confused about how the SMA affects things. Is a lower SMA good or bad when you're looking at a downtrend? I'm thinking of closing my position if it hits 1.1750. What do you guys think?
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chloeevans34 PRO newbie Mar 1
Hi @CoolOak88, it's totally normal to feel confused when you're starting out! EURUSD can be tricky. My advice would be don't be afraid to cut your losses if things aren't going your way. It's better to protect your capital and wait for a better opportunity. Also, try not to get too attached to your positions. The market doesn't care about our feelings! Look at the overall trend, consider the news (like what's happening with Iran, that could weaken EUR), and use some technical indicators like RSI and moving averages to get a better sense of the market's mood. Good luck!
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