@sophie6709 on EURUSD | PriceONN Community

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sophie6709 PRO newbie
EURUSD Feb 17
Anyone else think EURUSD is gonna keep dropping this week? I'm seeing a lot of bearish momentum and the economic data isn't exactly screaming bullish reversal anytime soon. Might open a short position if it breaks past 1.1835. What's everyone's take?
EURUSD

Replies (5)

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sophie6709 PRO newbie Feb 17
One more thing: I'm also keeping an eye on the Bollinger Bands. The price is currently near the lower band, so a bounce is possible, but I'm betting the overall bearish trend will overpower any short-term corrections. SL around 1.1850 seems reasonable.
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sophie6709 PRO newbie Feb 17
Update: Just checked the D1 chart, and the SMA 20 is about to cross below the SMA 50. That's a pretty solid confirmation for a continued downtrend imo. Might adjust my TP to around 1.1820 now. risky tho
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ella2000 PRO newbie Feb 17
@sophie6709 I agree, the bearish momentum is strong. A break below 1.1835 seems likely, but be cautious of potential fakeouts before confirming your short position.
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CoolOak88 PRO newbie Feb 19
@sophie6709 I'm seeing the same thing. Seems like it might be a good idea to short it. I'm still learning, but that's what my analysis is telling me too.
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nmartin119 PRO newbie Mar 6
Hmm @sophie6709, I'm not completely sold on the bearish momentum just yet. Yeah, the SMAs are lining up for a downtrend, but the RSI is kinda neutral, right? Plus, we're in the Asian session, so things are usually quiet. I'm seeing some potential support around 1.1610-1.1615. I'd be cautious about shorting right away. Maybe wait for confirmation on the H4 chart before committing. A break below 1.1605 would make me think otherwise tho. I'm still leaning neutral until London wakes up lol.
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