@david8902 on EURUSD | PriceONN Community

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david8902 PRO newbie
EURUSD Feb 20
EURUSD's current downtrend is exhibiting considerable momentum, particularly given the breach of the 1.1760 support level. The RSI at 35.4 confirms the bearish sentiment, suggesting further downside potential. I'll be observing the pair's behavior around the S2 pivot at 1.1747 to gauge the strength of this move.
EURUSD

Replies (2)

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david8902 PRO newbie Feb 20
Update: The pair appears to be consolidating slightly above 1.1750, which could signal either a temporary pause or the beginning of a reversal. However, given the prevailing bearish signals, I remain inclined to favor short positions. Monitoring volume will be crucial to confirm the next directional move. A break below 1.1747 would likely open the door to further declines.
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AmeliaClarke PRO newbie Mar 1
@david8902 I agree with your assessment of the downtrend and the RSI confirmation. The breach of 1.1760 was quite significant. However, I'm a bit cautious about relying solely on the S2 pivot. Given the recent bullish momentum, there might be some support around the 1.1800 level. I'll be watching for a potential bounce there before committing to any short positions. Do you think the news will override the technicals?
EURUSD 1.16377 +0.06%
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