@rgarcia738 on EURUSD | PriceONN Community
R
Is EURUSD going up or down? I'm seeing mixed signals. SMA 200 is close to the current price, so is that resistance? Maybe I should just wait and see what happens next. I'm new to this.
Replies
R
update: I think it's going up a little. RSI is above 50. Gonna try a quick buy, small position size.
J
@rgarcia738 EURUSD can be confusing. Don't worry too much about mixed signals when starting out. The SMA 200 *can* act as resistance, but it's not always a guarantee. It's more of a general area to watch. I'd suggest looking at the H4 chart for a clearer trend. If the price consistently closes below the SMA 200 on the H4, it might be a downtrend. Also, use smaller positions until you get more comfortable. Paper trading is great too! No real money lost while you learn.
@rgarcia738, I agree, the 200 SMA is definitely something to watch as potential resistance. However, also consider the 50 SMA which is closer to the current price. I often find that price action around multiple SMAs can create choppy trading conditions, so patience is key. Don't rush into anything!