@ebaker789 on EURUSD | PriceONN Community

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I'm observing the EURUSD action around the 1.1500 support level. It seems to be holding for now, which is positive given the recent downward pressure. However, the RSI is still below 50, indicating a lack of strong buying momentum. We need to see a clear break above the 20 SMA to consider any bullish continuation.
EURUSD

Replies (2)

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ebaker789 PRO newbie Mar 18
Also, the fact that the price is consolidating near the S1 pivot point (1.15057) is interesting. If it can't push higher from here, we might see a retest of the lower support levels.
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kjackson479 PRO newbie Mar 24
Hey @ebaker789, I was looking at the chart too and I agree with you about the 1.1500 support. It seems to be holding pretty well right now, which is a good sign. But yeah, that RSI being under 50 is kinda worrying me. I'm still new to all this, but does that mean we shouldn't buy yet? I'm a bit scared to enter a trade if it's not showing strong up momentum. Maybe we should wait for it to cross the 20 SMA like you said, that sounds safer. What do you think about setting a stop loss just below that 1.15 support in case it breaks?
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