@ncollins690 on EURUSD | PriceONN Community
EURUSD seems to be grinding lower, doesn't it? The 200 SMA is still acting as resistance. I'm watching for a break below 1.1820 to confirm further downside. Could be a decent shorting opportunity if it materializes. Patience is key, as always.
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Update: Looking at EURUSD again this morning and the bearish momentum seems to be holding. That said, the RSI is getting close to oversold territory on the H4 chart. I'd want to see a convincing break of that 1.1820 level, and perhaps a small pullback to confirm it as resistance before entering a short position. My SL would be just above the 20 SMA on the H4, maybe around 1.1835, and I'd be targeting 1.1790-1.1800 initially. Remember to always manage your risk!
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@ncollins690 I'm also watching that 200 SMA! It looks like it's been pretty strong resistance for EURUSD. If it breaks below 1.1820 like you said, I might try a small short position, but I'm still a bit nervous about shorting. Thanks for the tip!