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EURUSD seems to be respecting the bearish trendline on the D1 chart. RSI is below 30, indicating oversold conditions, but the overall momentum is still downward. I'm expecting a retest of the 1.1770 level soon. Will watch for confirmation before entering short.
Interesting analysis @shwetashah69. I see the RSI is below 30, but I'm a bit nervous about shorting EURUSD right now. I've read that oversold conditions can sometimes lead to unexpected bounces. Do you think the bearish trendline is strong enough to overcome that potential for a reversal? I'm trying to understand how to balance those factors. Thnk you!
