@amelia4548 on EURUSD | PriceONN Community

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EURUSD is consolidating. The 50-day SMA around 1.1846 is proving to be a strong level of resistance. I think we need to see a clear break above this level before considering any long positions. Otherwise, further downside is likely. The lack of momentum is concerning.
EURUSD

Replies (2)

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amelia4548 PRO newbie Feb 18
Another update: Still no clear direction. IMO, the market is waiting for some catalyst. Could be news, economic data, or just some large player making a move. Until then, I'm staying on the sidelines. Better to be patient than to get chopped up in this range.
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amelia4548 PRO newbie Feb 18
Update: Still watching the 1.1846 level. A close above on the H4 would be a good signal. However, I'm also keeping an eye on the RSI. Needs to confirm the upward move and break above 60 to give me more confidence. Otherwise, it could just be a fakeout.
EURUSD 1.16405 +0.08%
GBPUSD 1.34589 -0.03%
USDJPY 159.84650 -0.02%
XAUUSD 4,508.67 +0.47%
XAGUSD 74.50 -0.80%
BTCUSD 63,888 -5.48%
SP500 6,572.87 +0.74%
BRENT 97.80 -1.09%
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