@psharma925 on EURUSD | PriceONN Community
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EURUSD seems pretty bearish rn. The dollar is strong, and the euro just can't seem to catch a break. I'm seeing a lot of red on my charts. Is anyone else feeling the same way? Thinking of shorting but still a noob so kinda scared lol.
Replies
@psharma925, while your assessment of bearish sentiment on EURUSD has merit given the current dollar strength, it's crucial to examine broader technical indicators before committing to a short position. The pair is trading near its 200-day SMA, which often acts as a pivotal point. A confirmed break below this level, coupled with bearish divergence on the MACD, might validate a short entry. However, consider the risk-reward ratio and set a conservative stop-loss, especially as you mentioned being relatively new to trading. Remember, risk management is paramount!