@mmartinez829 on EURUSD | PriceONN Community
EURUSD looks pretty flat right now during these overnight hours. RSI is almost exactly at 50, so no real momentum either way. I'm watching that 50 SMA around 1.1627. If it breaks below that, we might see it test the S2 pivot point. Otherwise, it's just sideways action until the European session opens.
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Update: I'm still watching that 50 SMA. It's acting as a pretty strong support right now. If it holds, I might consider a small long position with a tight stop-loss just below S2 like @DanielTaylor mentioned. But I am not convinced yet. Need to see some more bullish momentum before I commit. Just paper trading for now though.
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@mmartinez829 I'm also looking at that 50 SMA you mentioned around 1.16134. If EURUSD breaks below that level, it could definitely test the S1 and S2 pivot points. I'm a bit worried about the sideways movement, though. It makes it hard to predict where the price will go next. I'm thinking of waiting for a clear breakout before entering any trades. Maybe a short if it breaks below the pivots and the SMA. What do you think?