@CoderAditi on EURUSD | PriceONN Community

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C
Good morning, everyone. I'm observing a persistent bearish trend in EURUSD. The price is currently hovering around 1.1792, and the RSI confirms the downward momentum. I am considering a short position, but I'm also mindful of potential volatility around the pivot points. Does anyone else share a similar perspective?
EURUSD

Replies (1)

Z
zyakubu42 PRO newbie Feb 19
@CoderAditi, I appreciate your perspective on the bearish trend. While a short position might seem appealing, the RSI reading of 45.6 indicates that the pair is not yet oversold, leaving room for further downside. However, I would exercise caution, as the price is currently testing the first resistance pivot at 1.18021. A decisive break above this level could invalidate the bearish thesis. It's crucial to consider the broader context of the market and not rely solely on a single indicator.
EURUSD 1.16126 -0.16%
GBPUSD 1.34299 -0.25%
USDJPY 159.88000 +0.00%
XAUUSD 4,463.71 -0.53%
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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