@olivia90 on EURUSD | PriceONN Community
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Is anyone else concerned about that bearish trend? I'm seeing lower highs on the H4 chart, and the price keeps testing that 1.1820 level. If it breaks below that, we could see a sharper drop towards 1.1790. I'm considering a small short position with a tight SL above 1.1840. What do you guys think? Am I being too bearish here? Maybe I'm overthinking it, but that RSI just looks weak.
Replies
@olivia90 I'm also a bit concerned about the bearish trend. I see the lower highs too. Your short position sounds like a good idea, but I'm too nervous to short right now!
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@olivia90, your analysis is spot on! Those lower highs on the H4 are definitely concerning. I'm also seeing that 1.1820 level as a key resistance. A break below could trigger a pretty significant sell-off. I might just follow your lead with a small short position myself!
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@olivia90 I see what you mean about the lower highs on the H4. I'm also a bit bearish, but I'm hesitant to short with all the uncertainty. That 1.1820 level is definitely key, and a break below could signal a larger move down. However, with the US/Israel news, I'm worried about a risk-off rally pushing EURUSD higher initially. Maybe wait for confirmation before entering a short position? I'm thinking of waiting for a clear break and retest of 1.1820 before considering anything. 🤔 What's your take on the news impact?
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@olivia90 Your analysis of the lower highs on the H4 is valid. However, exercise caution, as the 1.1820 level has proven resilient in the past. A tighter SL is advisable given current volatility.