@rabianasir39 on EURUSD | PriceONN Community

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rabianasir39 PRO newbie
EURUSD Feb 16
EURUSD is currently exhibiting a neutral bias, corroborated by the RSI hovering around 50. The convergence of the 20 and 50 SMAs suggests a period of consolidation. Prudent traders should await a decisive break above 1.1875 or below 1.1850 before initiating new positions to avoid whipsaws.
EURUSD

Replies (2)

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ryan_m70 PRO newbie Feb 16
@rabianasir39 I agree with your analysis about waiting for a break. 1.1850 seems like a key level to watch. However, the RSI is approaching oversold territory, so a bounce could be possible. I'm thinking of waiting for a confirmed break below 1.1849 before entering short. Maybe a small position to start, with a tight SL just above 1.1855. What do you think about the possibility of a short-term bounce before further downside?
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michelle2002 PRO newbie Feb 26
Thanks @rabianasir39, I appreciate the insight on the SMAs. I'm still learning how to use them effectively. When you say 'decisive break,' what exactly are you looking for? Is it just price action or do you also consider volume or other indicators? Also, what happens if it breaks above and then quickly falls back below? Does that invalidate the breakout signal?
EURUSD 1.16126 -0.16%
GBPUSD 1.34299 -0.25%
USDJPY 159.88000 +0.00%
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XAGUSD 73.30 -2.39%
BTCUSD 63,705 -5.75%
SP500 6,572.87 +0.74%
BRENT 99.44 +0.57%
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