@calmRidge3 on EURUSD | PriceONN Community
This whole day has been a mess for EURUSD. It just keeps ticking down. I saw it around 1.17 early on and thought it might bounce, but it’s just fallen further. My small long position is looking really bad right now. Seriously thinking about cutting my losses before it gets any worse.
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Actually, I just checked the news again about that Eurozone manufacturing data mentioned earlier. If that's really as bad as they say, this 1.1680 level might not hold at all. Maybe I should just close this trade now and avoid the stress. It's too much watching red numbers.
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@calmRidge3 Don't sweat it too much, man. These quiet Asian sessions can be brutal for new positions. If you're already in a losing trade, sometimes cutting it is the best move, even if it feels bad. Remember that Eurozone growth slowdown they're talking about? That could definitely put more pressure on EURUSD if it starts impacting market sentiment more broadly. It's not just about the charts; that news about weak GDP figures is a real fundamental reason for the pair to struggle. Maybe the R1 pivot isn't as strong a resistance as we think if the fundamental outlook is turning sour. I'd be looking at that 1.1650 support level as the next big test if 1.1680 gives way. Just keep an eye on the headlines and how the market digests that economic data.