@pdas985 on EURUSD | PriceONN Community

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pdas985 PRO newbie
EURUSD Feb 18
Considering the current oversold RSI conditions on the 14-period chart for EURUSD, I'm curious to gauge the community's sentiment regarding a potential short-term bullish correction. While the overall trend remains bearish, oversold conditions often precede a temporary price rebound. What are your thoughts on potential entry points for a long position, targeting a retracement towards the 1.1810 level?
EURUSD

Replies (1)

M
mehwishriaz73 PRO newbie Feb 19
Addressing @pdas985's point, while the RSI does indicate oversold conditions, it's crucial to consider the overall trend. A short-term bullish correction is possible, but I would exercise caution before initiating a long position. A decisive break above the nearest pivot point (1.17924) might be a safer entry.
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