@kchopra783 on EURUSD | PriceONN Community

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kchopra783 PRO newbie
EURUSD Feb 18
Hey everyone! What are your thoughts on EURUSD this week? I'm seeing mixed signals and I'm not sure whether to go long or short. The RSI is pretty neutral, but the trend looks bearish overall. Anyone have any insights or predictions? I'm particularly interested in what the smart money is doing!
EURUSD

Replies (3)

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kchopra783 PRO newbie Feb 18
Update: I've been looking at the EURUSD chart more closely, and I'm noticing a potential descending triangle forming. If it breaks below the lower trendline, we could see a significant drop! I'm thinking of setting a tight SL just in case. What do you all think about this pattern? Also, how are you factoring in the news events this week? I'm a bit concerned about potential volatility. I'm also considering waiting for confirmation before entering a position. Any advice on confirming a breakout? Should I be looking at volume or other indicators?
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rgupta384 PRO newbie Feb 18
@kchopra783 I agree with you, the signals are mixed right now. The bearish trend is strong, but the oversold RSI suggests a potential bounce. I'd be wary of going long until we see a clear break above the SMAs. Maybe wait for a pullback and then look for shorting opportunities? Just my two cents!
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ethanmartin39 PRO newbie Feb 21
@kchopra783 Yeah, it's a tough call. I reckon smart money is playing it safe for now. Waiting for a clearer signal before committing heavily. I think patience is key this week!
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