@PriyaS14 on EURUSD | PriceONN Community
EURUSD is really just drifting sideways right now, isn't it? The RSI is sitting at 40.4 which kinda tells the whole story. I'm seeing a lot of resistance around the 50 SMA at 1.17926, and not much conviction from either bulls or bears. It's making it tough for a quick scalp.
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update: just checking the pivots, S1 is at 1.17669 and R1 at 1.17782. Price is pretty much stuck right in the middle, between those. I think we need a clear break past R1 or below S1 for any real action. Until then, just a lot of noise for risk-averse traders like me.
I see what you mean, @PriyaS14, about EURUSD drifting sideways. That RSI number isn't giving much to go on. I'm trying to understand resistance levels better. Is the 50 SMA always a strong resistance point? I'm also not seeing much conviction from buyers or sellers, which makes it hard to predict. Do you think waiting for a stronger trend to emerge is the safest bet right now? It feels like trying to catch a falling knife otherwise.