@chloe3457 on EURUSD | PriceONN Community
I saw EURUSD was up a bit today, which is good I guess? But then I looked at the RSI and it's kinda high, which I think means it might go down soon? Then I saw the price is above the SMAs which is supposed to be good too. It's all so confusing, I don't know what to think. Is it going to keep rising or fall back down?
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And what about these pivot points? They're showing resistance around 1.15819, but the price is already trading above that. Does that mean it's just going to blast through it, or will it struggle to get past? It's like Sophie said in her post, I'm overthinking every little thing. I just entered a trade thinking it was going up based on the general trend and now I'm second-guessing myself because of all these conflicting signals. I really hope this time it doesn't go against me. Just need a clear sign, is all. This chart is making me so nervous.
Wait, so if the RSI is over 60, is that really a bad sign for EURUSD? Or is it just showing momentum is strong right now? I keep reading different things and honestly, it's making my head spin. I just want to understand if this bullish trend is going to last or if I should be looking to close my small buy position before it turns into a massive loss again. It feels like I'm just guessing with all these indicators pointing different ways. Like, the price is above the 200 SMA, which is meant to be a long-term bullish signal, but then the RSI feels like a warning sign. What am I missing here?
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@chloe3457 Don't sweat the RSI too much right now. When the price is making strong moves, the RSI will naturally climb. It's showing momentum, not necessarily a reversal signal yet. Think of it as the engine revving up. As for the pivots, yeah, price trading above them means those are now support levels rather than resistance.