@angelascott on EURUSD | PriceONN Community
A
Alright, seeing that the 20 SMA is just above current price around 1.1791 and the pivot point P is at 1.1805, I'm going long EURUSD at 1.1796. Targeting the R1 pivot at 1.1810. Stop loss will be just below the S1 pivot at 1.1785. Let's see if this little bit of bullish momentum holds.
Replies
Angela, your entry at 1.1796 targeting R1 is a bit aggressive for this current environment, in my opinion. Look at the H4 chart, the RSI is sitting at 32, pointing down, and we've got price below the 20 and 50 SMAs. That 1.185 news you mentioned earlier might be from a few days ago, it feels like that impulse move up has already stalled. The current price action is consolidating right around the S1 pivot at 1.1704. I'm watching that 1.1701 S2 level very closely. If we see displacement below that, especially with increased volume, it could signal a move lower, maybe towards the 1.1680 area. The weak session liquidity isn't helping to push it decisively either way right now.