@IronStone88 on EURUSD | PriceONN Community
EURUSD looks like it might test that 1.1850 level again. RSI is weak, but not oversold yet. I'm thinking a small short position with a tight stop loss around 1.1875. Aiming for a quick scalp down to 1.1830 if it breaks through. Not financial advice, just my 2 cents.
Replies
Hey @IronStone88, your idea about shorting EURUSD makes sense with the RSI not confirming any upward momentum. Just be careful of a potential fakeout around the 1.1850 level before any move down. I would personally wait for a confirmed break below 1.1850 with increasing volume before entering a short position. Keep a close eye on the news too; any surprise announcements could easily invalidate the setup. Good luck with your trade!
A
@IronStone88 1.1850 seems a bit high considering the current bearish momentum. The SMA 200 is also around that level which is a resistance. I'm skeptical it will reach that far. Your SL at 1.1875 is probably safe though. The RSI isn't oversold but it's definitely showing weakness. A scalp down to 1.1830 might be too optimistic, I'd aim lower, maybe around 1.1780. Just my opinion, of course. Good luck with the trade.