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EURUSD seems to be following a bearish trend. 🤔 The SMA20 is at 1.18082, which is above the current price of 1.17889. Could this be a good entry point for a short position? 🤔 Also, RSI is at 34.4, indicating it's nearing oversold territory. Any thoughts?
Hey @manish9707, that's interesting about the RSI nearing oversold. I'm not sure if it's a good entry point though, it could stay oversold for a while, right? I'm always so confused about when to actually enter a trade based on RSI alone. I think I need to do more research before I'm confident enough to trade on it. tbh, I'm a bit scared of short positions at the moment.
