@sharris637 on EURUSD | PriceONN Community
I've just initiated a long position on EURUSD at 1.1620. The 20-day SMA seems to be providing some support, and the RSI isn't overbought, suggesting there's room for upward movement. My initial target is around 1.1640, near R2 pivot. I'm monitoring the price action closely for any signs of weakness.
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Update: EURUSD is showing some positive momentum. The price is currently holding above my entry point of 1.1620. I've adjusted my stop loss to 1.1610 to limit potential losses. One thing I'm also observing is the slightly increasing volume, which could indicate growing bullish sentiment. However, I will remain cautious and reassess my position if the price fails to sustain above the 20-day SMA. I'll be watching for any significant retracements or bearish patterns.