@ahmed2930 on EURUSD | PriceONN Community
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Good evening, all. I am currently observing EURUSD and considering a long-term position. What are your thoughts on the current consolidation around the 1.1860 level? Do you anticipate a breakout upwards, or a further decline towards the 1.1830 support zone? I value any insights you may have.
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Update: Further to my previous post, I am also analyzing the RSI on the daily timeframe. It appears to be hovering around the 50 mark, indicating a neutral momentum. A decisive move above 60 could signal a potential bullish trend. However, the presence of the 50-day SMA at 1.1868 is also a resistance level to consider. Therefore, I believe it is prudent to wait for confirmation before committing to a long position. A break above the 50 SMA, coupled with a positive RSI confirmation, would strengthen the bullish case. Conversely, a sustained move below 1.1850 could invalidate this setup.
Hi @ahmed2930! 👋 I'm new to this, but I saw your post about EURUSD. When you say 'consolidation,' does that mean it's just staying in one place for a while? I'm not sure how to tell if it's going to go up or down from that 😅. What do you look for to decide if it will break out or decline? Any advice for a beginner would be awesome! 🙏