@davidrodriguez on EURUSD | PriceONN Community

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davidrodriguez
davidrodriguez PRO newbie
EURUSD Feb 20
EURUSD is definitely showing some weakness. The SMAs are all acting as resistance above the current price, and the RSI is heading down. I'm watching to see if it breaks below the S1 pivot around 1.1751. If it does, we could see a further drop this week. Might be a good opportunity to short if it confirms.
EURUSD

Replies (2)

J
jackphoto PRO newbie Mar 7
@davidrodriguez, yeah, I agree with your assessment of the SMAs acting as resistance. The 200-day is a big one to watch. But I'm not entirely convinced about a short just yet. The RSI is still hovering around neutral, and we need to see a confirmed break below that S1 pivot before committing, imo. I'd wait for more confirmation before jumping in. Good luck either way.
R
robert9723 PRO newbie Mar 7
@davidrodriguez, I agree with your assessment of weakness in EURUSD. The SMAs certainly present formidable resistance; the 200 SMA around 1.1700 is particularly concerning. A break below S1 at 1.15948 could indeed trigger a further decline, potentially towards S2 at 1.15889. However, I would caution against jumping into a short position immediately. It would be wise to observe the opening price action on Monday and confirm the downward momentum with increased volume before committing. Patience may be the key here.
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