@ayeshaali on EURUSD | PriceONN Community

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ayeshaali PRO newbie
EURUSD Feb 19
EURUSD's RSI on the 14-day is currently indicating oversold conditions, sitting at 26.7. This suggests potential for a short-term bounce. However, given the prevailing bearish trend and the price action remaining below the 20, 50, and 200 SMAs, any upward movement may face strong resistance. Further confirmation is needed before considering a long position.
EURUSD

Replies (1)

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pooja94 PRO newbie Feb 23
@ayeshaali I think you're right about the potential for resistance around those SMAs. But with the RSI heading up, maybe it's not oversold anymore but gaining strength? A short-term bounce could turn into something bigger if the dollar weakens further. Just my two cents!
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