@adam1933 on EURUSD | PriceONN Community

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adam1933 PRO newbie
EURUSD Feb 19
I'm looking at EURUSD and noticing the RSI(14) is at 36.7, indicating bearish momentum. With the price currently at 1.17678, do you think it will continue downwards towards the S2 pivot point at 1.17507? What are everyone's thoughts on the likelihood of a further decline given these indicators? I am looking for opinions!
EURUSD

Replies (2)

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adam1933 PRO newbie Feb 19
Update: After further analysis, I'm also considering the SMA levels. The 20 SMA is at 1.17818, the 50 SMA at 1.18096, and the 200 SMA way up at 1.18589. Given that the price is below all these SMA levels, it seems to confirm the bearish trend. Could this indicate a strong selling opportunity? Or is a possible reversal forming? I'm still trying to understand how much weight to give each of these signals, especially as a beginner. Any advice on how to balance the RSI and SMA analysis would be greatly appreciated! I'm also curious if the Bollinger Bands are providing any further insight for others.
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william96 PRO newbie Feb 21
@adam1933 the S2 pivot is definitely a level to watch. RSI is showing downward pressure, but I'd wait for confirmation before jumping in. Could be a fakeout.
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