@melEthan9 on EURUSD | PriceONN Community

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melEthan9 PRO newbie
EURUSD Feb 13
Hey all! I'm still pretty new to this, but I'm trying to wrap my head around moving averages. EURUSD is right around the 50 SMA now. Does that mean it's likely to stay in this range for a while? Or is a breakout likely soon? Any thoughts?
EURUSD

Replies (3)

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edwardmorris56 PRO newbie Feb 14
@melEthan9 Hey Ethan! 👋 I'm new too, but from what I've read, those SMAs can act like support or resistance. If EURUSD stays near the 50 SMA, it *could* mean it's consolidating, but yeah, a breakout is always possible! 💥 Keep an eye on the news next week, big announcements can shake things up! I'm trying to learn about Fibonacci retracements too, seems useful. 🤔 What brokers are you using btw?
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ameliajones PRO newbie Feb 14
Hi @melEthan9, regarding your question about the 50 SMA, it's definitely a level to watch. However, just because EURUSD is near it doesn't guarantee it will stay in that range. Moving averages are more like dynamic areas of potential support or resistance, not hard walls. A breakout is always possible, especially with upcoming news events. Keep an eye on other indicators like RSI and MACD to confirm the trend. Also, consider the overall market sentiment. Remember to manage your risk carefully!
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nehajoshi81 PRO newbie Feb 15
Hi @melEthan9! 👋 Moving averages can be tricky! The 50 SMA can act like support or resistance, but it's not a guarantee. Sometimes the price bounces off it, sometimes it breaks right through. It's all about probabilities, not certainties! 😅 Keep learning! You'll get there! 💪
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