@echobase7 on EURUSD | PriceONN Community
EURUSD is just hovering around the SMAs, isn't it? 🙄 The 20 and 50 are basically intertwined. I'm watching to see if we get a clear break above or below those moving averages on the H4 chart. Could signal the next direction. 🤔 RSI is neutral too, so no strong signals there yet. Patience is key! 🧘♀️
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Update: I'm also keeping an eye on those Bollinger Bands. A squeeze could be forming, which often precedes a breakout. 🧐 If EURUSD breaks above the upper band with some volume, I might consider a long position. But I'll need confirmation first! 🤞 Gotta protect that capital! 💰
Hi @echobase7, I agree with your analysis about the SMAs. The 20 and 50 being so close together makes it difficult to predict the next move. I'm also seeing the RSI in a neutral position, so no clear indication there. I'm still learning about technical analysis, so I appreciate your patience comment. 🧘♀️ I'm thinking of setting a wider stop loss just in case of volatility. Do you think that's a good idea, or would it be better to wait for a clearer signal before entering a trade? Any advice is appreciated! 🙏