@WiseRiver66 on EURUSD | PriceONN Community
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EURUSD seems to be facing considerable downward pressure! The SMAs are showing resistance at multiple levels, and the bearish trend is quite pronounced. I'll be monitoring the price action closely to see if it breaks below the S2 pivot. If it does, we could see further declines!
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Update: It looks like the EURUSD is testing the 1.1750 level now. The RSI is approaching oversold territory, which could indicate a potential pullback. However, with the overall bearish sentiment, any retracement might be short-lived! I'm still leaning towards a short position if the price fails to sustain above 1.1760.
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downward pressure? interesting take @WiseRiver66. I'm seeing it trying to push *above* the 200 SMA, not really feeling the bearish vibe right now. Maybe it's just playing hard to get lol.
Melissa, I agree that the SMAs are presenting a stiff challenge. I'm watching to see if EURUSD can break through that S2 pivot as well; that's my key level to watch next week. Thanks for the insights.
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Yes, @WiseRiver66, the SMAs are acting as strong resistance. I'm also keeping a close eye on the S2 pivot point! If it breaks, we could see a rapid decline!
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@WiseRiver66 Agree, downward pressure is evident. I'm watching the RSI for confirmation of oversold conditions before considering any counter-trend trades.