@KevinT32 on EURUSD | PriceONN Community

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KevinT32 PRO newbie
EURUSD Feb 26
I'm considering a potential long position on EURUSD based on a possible bounce off the 50 SMA at 1.1797. The key will be monitoring price action around this level for confirmation. My entry point would be around 1.1798, with a stop-loss placed just below S2 at 1.1790 to minimize risk. My initial target is R1 at 1.1801, with a potential extension to R2 at 1.1805 if the momentum is strong. This would be a relatively tight trade, but the risk/reward ratio seems favorable given the current market conditions. I will watch the H4 chart for confirmation before entering the trade. What do you think?
EURUSD

Replies (1)

H
hyoung96 PRO newbie Feb 28
@KevinT32 I think your long position idea is solid, esp with the 50 SMA acting as support. Just be careful of that Iran news, might throw a spanner in the works!
EURUSD 1.16105 -0.13%
GBPUSD 1.35085 -0.11%
USDJPY 156.16000 +0.24%
XAUUSD 4,409.01 -1.43%
XAGUSD 66.06 -1.33%
BTCUSD 79,967 +0.28%
SP500 6,572.87 +0.74%
BRENT 94.83 +0.65%
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