@archerChristopher on EURUSD | PriceONN Community
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The current price action around EURUSD is exhibiting characteristics of a ranging market. We're seeing oscillations between support and resistance levels, without a clear directional bias. The 20 and 50 SMAs are intertwined, further suggesting indecision. Traders should exercise caution and avoid over-leveraging positions during periods of consolidation. It might be wise to wait for a decisive break of either the upper or lower Bollinger Band before establishing a trend-following strategy. Patience is paramount in these conditions, and protecting capital should be the primary focus. I'm personally staying on the sidelines until I see some conviction.