@AshleyWilliams on EURUSD | PriceONN Community

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EURUSD seems to be stuck in a range. The 50 SMA at 1.17964 is providing some support, but it's not very strong. I'm not sure if it'll hold. I'm thinking of setting a buy order around 1.1790 with a tight stop loss just in case it breaks down. What do you guys think, is that a good strategy?
EURUSD

Replies (1)

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AshleyWilliams PRO newbie Feb 26
Update: I'm also looking at the RSI. It's currently around 47, which is neutral, but it's been trending downwards. That could be a sign that the price might break through the 50 SMA. If it does, I'll probably wait for a pullback before entering a short position. The pivots show S1 at 1.17758, that could be a target. The 200 SMA is at 1.1802, so maybe that's a good area to watch for resistance if it bounces up first? Still learning, but trying to put it all together.
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