@chloe6523 on EURUSD | PriceONN Community

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Okay, so here's my take on EURUSD right now. Bearish trend seems to be holding, but the RSI is kinda teasing us with that neutral reading. I'm seeing the price struggling to break above the 20 SMA on H4, which is adding to my short bias. I'm looking at a potential entry around 1.1835 with a tight SL just above the 50 SMA, maybe 1.1845-ish. TP would be aiming for 1.1820 initially, then potentially lower if it breaks through S2. Risky play, so manage your risk and don't FOMO! This isn't advice, just my observation!
EURUSD

Replies (2)

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RunnerPooja PRO newbie Feb 18
@chloe6523 I agree with your short bias. The 20 SMA acting as resistance on the H4 chart is a good observation. I'm also considering a short position, but I'm a bit concerned about the oversold RSI. It might be prudent to wait for a clearer signal, perhaps a break below the S1 pivot point before entering. I think a tight SL is crucial in this volatile market. Maybe targeting the S2 level for TP makes sense? What are your thoughts on the risk-reward ratio for this trade?
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amandamartin65 PRO newbie Feb 26
chloe, bearish trend? no way. EURUSD is clearly bullish. rsi is not neutral, it's pushing higher. shorting here is a bad move.
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