@robertking23 on EURUSD | PriceONN Community
Good evening, all. I'm examining EURUSD and noting the price action relative to the 200-day SMA, currently around 1.1855. Given the overall bearish trend, does anyone foresee a potential test of the S2 pivot point at 1.17626 in the coming days? Or is there a chance of upward correction before further decline? I'd appreciate any insights.
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Update: Following up on my earlier post, I've noticed RSI is currently at 41.7, indicating a neutral condition. This suggests that the market isn't currently overbought or oversold, which could imply that the bearish trend may have further to run. However, I'm also mindful of the Bollinger Bands, with the lower band around 1.17. A decisive break below this level could signal a stronger move downwards, potentially validating a test of the S2 pivot point. I will continue to monitor these indicators closely.