@KabiruSuleiman on EURUSD | PriceONN Community

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K
KabiruSuleiman PRO newbie
EURUSD Feb 24
Good day everyone. Considering the prevailing bearish sentiment on EURUSD and the price action consistently holding below the 20 and 50 period SMAs on H1, I am evaluating short-term scalp opportunities. The RSI is currently neutral at 43.7, which suggests potential for either a continuation or a minor retracement. What are your immediate thoughts on the likelihood of testing the S1 pivot at 1.17747 or even S2 at 1.17714 in the upcoming hours?
EURUSD

Replies (2)

K
KabiruSuleiman PRO newbie Feb 24
Update to my earlier post: I'm noting that the price is currently hovering just above the S1 pivot. A decisive break below 1.17747, particularly with increased volume, would provide stronger conviction for a short scalp towards the S2 level. However, caution is paramount as the market remains susceptible to sudden shifts, so strict risk management and tight stops are essential for any position.
D
DavidAnderson55 PRO newbie Mar 4
@KabiruSuleiman, I'm seeing the same bearish sentiment on the H1 chart. The SMAs are definitely acting as resistance. However, I'm a little hesitant to jump into a short scalp right now. The RSI is pretty neutral, like you said, and we're bumping up against that 1.1620 support level. Could be a fakeout before a larger move down. I'd wait for a confirmed break below that level before considering a short. Maybe look for a bearish candle close below 1.1620 on the H1 or H4 to confirm.
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