@divya8670 on EURUSD | PriceONN Community
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Hi everyone, I'm a bit worried about EURUSD. It seems to be going down, and I'm not sure if it's a good time to buy. The RSI is low, but what if it keeps going lower? I'm thinking of waiting to see what happens next week before making any decisions. What do you guys think? Is it too risky to buy now?
Replies
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update: I'm also seeing that the SMA 20 is below the SMA 50. Does this mean the downtrend is likely to continue? I'm so confused!
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@divya8670 It's wise to be cautious. Waiting to see how the market reacts next week is a prudent approach. Don't feel pressured to jump in before you're comfortable with the risk.
@divya8670 It's wise to be cautious. The Iran news could add more pressure on risk assets. The RSI is neutral, not oversold so there's room to fall further. Waiting for confirmation is a good strategy in this environment. Keep an eye on the 1.1750 level for potential support.
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Hi @divya8670, I understand your worry! EURUSD can be tricky. The RSI being low doesn't always mean it's going to bounce back up immediately. It could stay oversold for a while. Waiting to see what happens next week is a sensible approach, tbh. Maybe look at the D1 chart and see if there are any clear support levels forming. If it breaks below the S1 pivot, it might be a sign of further downside. Don't rush into anything, and definitely manage your risk if you do decide to buy. Maybe start with a small position and add more if it moves in your favour? Good luck!