@arobertson272 on EURUSD | PriceONN Community
Initiating a short position on EURUSD at 1.1603. Targeting a move down to 1.1570, with a stop loss placed at 1.1625. Rationale based on the rejection at the 50 SMA and a potential bearish divergence forming on the hourly RSI. Let's see if this plays out.
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Update: EURUSD is showing initial signs of downward momentum, currently trading at 1.1598. The RSI is confirming the bearish bias, now below 50. I've adjusted my stop loss to 1.1615 to reduce potential losses. I'm also monitoring the DXY index for further confirmation of EURUSD weakness. If we break below 1.1590, I'll consider adding to the position, aiming for the S1 pivot at 1.15898 as an intermediate target. Will update again later.