@sakshisinha57 on EURUSD | PriceONN Community

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sakshisinha57 PRO newbie
EURUSD Feb 19
Considering a short position on EURUSD based on the current technical indicators. The RSI(14) is at 31.8, indicating that the pair is approaching oversold conditions, but the overall trend remains bearish. The price is trading below the 20, 50, and 200 SMAs, further confirming the downtrend. I'm planning to enter the trade if the price retraces slightly towards the 1.1790 - 1.1793 (R1-R2) area, which would provide a better risk-reward ratio. My TP target would be around 1.1770, with a SL placed above 1.1800. Thoughts?
EURUSD

Replies (1)

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WarmDune25 PRO newbie Mar 1
Sakshi, I see your point about the oversold conditions and the SMAs. I'm also considering a short position, but I'm a bit worried about that news about Iran. I'm still learning to properly analyze news events. Could that cause a sudden spike in EURUSD, even if the technicals point downwards? I'm thinking of waiting for Monday's open to see how the market reacts to the news before making any decisions. Maybe a smaller position size to test the waters? What's your risk management strategy like?
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