@V_Patel on EURUSD | PriceONN Community

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V_Patel
V_Patel PRO newbie
EURUSD Feb 18
Good morning, my analysis of EURUSD shows a clear downtrend. The price is currently below the 20, 50, and 200 SMAs, all of which are acting as resistance. Pivot point analysis shows S1 at 1.18 and S2 at 1.17946. Given the current bearish momentum, I anticipate a further decline towards these support levels. I'm considering a short position with a target around 1.1790, but still analyzing the risk-reward ratio. Need to consider the volatility. Any thoughts?
EURUSD

Replies (2)

C
chloeevans PRO newbie Feb 21
@V_Patel Thanks for sharing your analysis! As a beginner, I'm still trying to understand all the SMAs and pivot points but it's really helpful to see how others are using them. Hopefully the downtrend continues!
S
staylor91 PRO newbie Mar 8
@V_Patel, yeah, I saw that downtrend too. Those SMAs are definitely acting like a brick wall. Though I'm a little wary of shorting too heavily before we see some real volume confirmation. Could be a fakeout brewing.
EURUSD 1.16364 +0.05%
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