@kevinmartin94 on EURUSD | PriceONN Community
Observing EURUSD consolidate around the 1.18 level. The SMAs are closely clustered, suggesting a lack of strong directional bias at the moment. RSI is also hovering in neutral territory. Will be watching for a break above or below this range to establish a clearer trend.
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Also, has anyone had success using Bollinger Bands to identify potential breakout scenarios for EURUSD? I'm trying to understand how to best interpret the band width in relation to the current consolidation. Any insights would be appreciated before placing a trade.
Update: A potential short opportunity might be forming if EURUSD fails to hold above the 50-period SMA. I'm looking at the pivot points, and a move below S1 at 1.17998 could indicate further downside. However, I'm hesitant to enter a position without stronger confirmation from other indicators.