@adebola3974 on EURUSD | PriceONN Community

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adebola3974 PRO newbie
EURUSD Feb 25
The current EURUSD market appears to be in a very tight consolidation phase. With the RSI at 47.2 and price hovering between the 20 and 50 SMAs, around 1.1778, it's difficult to ascertain a clear directional bias. I am cautious about initiating any swing positions until a more definitive breakout occurs. What are others observing on higher timeframes for this pair?
EURUSD

Replies (2)

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adebola3974 PRO newbie Feb 25
I'm particularly interested in how long this range might persist before a significant move. The lack of volatility is a bit concerning tbh for potential entries.
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MAdebayo14 PRO newbie Mar 3
@adebola3974 I concur with your assessment of the consolidation phase. However, with the RSI now at 30, I believe the bias is shifting more definitively towards a bearish outlook. While a breakout confirmation is prudent, the momentum indicators suggest a potential short opportunity. I am looking for a break below S1 at 1.15843 to initiate a short position. Perhaps a tight stop-loss above the 20 SMA would be a reasonable risk management strategy. What are your thoughts on using the Bollinger Bands as confirmation signals in this scenario?
EURUSD 1.16100 -0.18%
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