@AmeliaChef on EURUSD | PriceONN Community

Further update: I'm also keeping an eye on the RSI(14). It's currently at 52.1, which doesn't give us a clear overbought or oversold signal just yet. However, if it starts trending downwards while the price struggles to break above the SMA 50 on the H4, that would strengthen the case for a short position. My plan is to wait for a bearish candlestick pattern to form near that resistance level before making a move. Risk management is key, so I'll set a tight stop-loss just above the SMA 50 to protect my capital! Let's see what happens!

Update: Looking at the H4 chart, the SMA 50 is acting as a pretty solid resistance right now. It's hovering around 1.16121, which seems to be preventing any significant upward movement. I'm thinking this might be a good point to watch for a potential short entry if we see a convincing rejection!