EURUSD is def trending down. RSI is below 30, so it's oversold, but that doesn't mean it can't go lower. I'm watching for a potential bounce near the S2 pivot (1.17789), but I'm not convinced it'll hold. Might be a good short-term scalp opportunity, but be careful.
@sneha1995, I agree with your assessment. A short-term scalp near S2 seems plausible, but the overall trend remains bearish. I'll be cautious and monitor the price action closely around that level.
V
VMehta17PROnewbieFeb 23
Interesting point about the RSI, @sneha1995. While it's true that an oversold RSI doesn't guarantee a bounce, it can be a good indicator for potential reversal zones. I'm watching the S1 pivot around 1.18165 as a possible support level. A small scalp might be worth it if it holds, but yeah, definitely need to be careful with the overall bearish pressure. What's your TP target for the scalp?