EURUSD seems to be in a downtrend. RSI is below 50 and the price is below the SMAs. I'm still learning, but should I be looking for sell opportunities here? Maybe waiting for a small pullback first would be a good idea, just to be cautious.
Hi @apexhunt570, I agree it's wise to be cautious! 👍 Waiting for a pullback could be a good strategy, but keep an eye on the 20-day SMA around 1.1600. That could act as resistance if the price tries to bounce. Also, consider the overall trend – EURUSD has been bearish for a while, so selling on a pullback might align better with the trend. Just make sure your stop-loss is well-placed! Remember, risk management is key! 😉 Don't overleverage, and only trade what you can afford to lose. Good luck!
