@asingh981 on EURUSD | PriceONN Community
A
EURUSD showing bullish signals with RSI above 60, but the 200 SMA at 1.18366 is concerning. A potential long entry could be considered if it decisively breaks above this SMA, targeting the R1 pivot point. However, a tight stop-loss is crucial, perhaps near 1.1820, to manage downside risk. We need to be mindful of the ECB meeting's potential impact. It could easily reverse the current trend. Always consider the broader market sentiment before committing to a position. Also, what are your thoughts on using Fibonacci retracement levels to identify potential support and resistance zones?