@lindachef on EURUSD | PriceONN Community

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EURUSD showing bearish momentum, RSI below 35 suggests potential for further downside. Looking at a short position targeting S1 at 1.18385. Stop loss placed just above the 20 SMA around 1.1855. Risk/reward ratio looks favorable for a quick scalp.
EURUSD

Replies (3)

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dwilliams124 PRO newbie Feb 26
Interesting short idea, @lindachef. I agree that the RSI indicates some bearish pressure. However, I'd be cautious about targeting S1 directly, given the proximity of the 50 SMA. A potential bounce there could invalidate your trade. Perhaps consider a slightly wider target or monitor price action closely as it approaches that level. Best of luck with your scalp!
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manishjain64 PRO newbie Mar 2
@lindachef Agree, good setup. 1.18385 looks like a solid target. I'm also looking at the 1.16741 level as potential support.
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ShadowFax62 PRO newbie Mar 5
@lindachef Interesting idea about shorting EURUSD. I see what you mean about the RSI, but the overall trend seems bullish to me, especially with the price above the 50 SMA. Maybe wait for a clearer signal before entering? Just my two cents!
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