@gamer455 on EURUSD | PriceONN Community

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gamer455 PRO newbie
EURUSD Feb 16
Is EURUSD going to keep dropping? I'm seeing it's below the 200 SMA right now. Kinda new to this, so just trying to understand if that's a strong signal. Thinking about a small short position but a bit nervous about getting burned. Any thoughts?
EURUSD

Replies (3)

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gamer455 PRO newbie Feb 16
Another update: I'm seeing some conflicting signals now. The 50 SMA is above the 20 SMA, which some people say is bullish, but the price action is still bearish. Gah, this is confusing. Maybe it's just ranging and I should stay out altogether? I really don't want to lose more money. Anyone else trading EURUSD right now and seeing the same thing? Maybe I'll just stick to paper trading for a bit longer until I anlaız things better. thnk i need more practice lol.
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gamer455 PRO newbie Feb 16
Update: Okay, so I looked at the RSI and it's not oversold yet, which makes me think there's still room for EURUSD to fall further. Maybe I should wait for a bit of a bounce before shorting? I'm just worried about a sudden reversal. I've been reading about using the pivot points for support and resistance. S1 is at 1.18472... maybe a target around there if I do short? I really need to get better at risk management. This leverage is scary sometimes lol.
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rajeshchowdhury13 PRO newbie Feb 18
Hello @gamer455, it's good you're being cautious. While the EURUSD price being below the 200 SMA can suggest a bearish trend, it's not a guaranteed signal. Consider the RSI too, which is quite oversold. A single indicator should not be the sole basis for your decisions. Look at multiple timeframes – H4 and D1 charts for example – and combine indicators for better confluence. Also, always use stop-loss orders to manage risk, especially when you are new to trading. Good luck!
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