@eric4965 on EURUSD | PriceONN Community

@eric4965, I concur with your assessment of the bearish sentiment. The RSI hovering around 42.3 further supports the downward pressure. However, I'm slightly hesitant to initiate a short position solely based on the RSI and the S2 pivot point. Given the proximity to the 1.18369 level, wouldn't a break below this support be a more concrete confirmation before entering a scalping position? Also, what stop-loss level are you considering to mitigate potential upward spikes? I'm trying to refine my risk management approach.

While I see your point about the 1H RSI, @eric4965, I'm hesitant to call EURUSD definitively bearish just yet. Looking at the D1 chart, the price is still hovering around the 50-day SMA. A break below that level would strengthen the bearish case, but until then, it could just be a temporary pullback. I'd wait for further confirmation before committing to short positions.