@priyasharma78 on EURUSD | PriceONN Community
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EURUSD showing some upward momentum today! The RSI(14) is at 66.7, suggesting bullish pressure. I'm new to this, but does this mean we can expect further gains in the short term? I'm trying to understand how to interpret these indicators better. Any advice would be appreciated!
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Update: I've been looking at the pivot points as well. EURUSD is currently above the pivot point of 1.18242. If it can maintain this level, it might test R1 at 1.18326. However, the 200 SMA at 1.18366 is very close by, so that could act as a strong barrier. I'm still learning how to combine these different indicators for a more accurate analysis. What are your thoughts on using pivot points in conjunction with SMAs?
Hey @priyasharma78, the RSI at 66.7 does suggest bullish momentum, but it's not a guaranteed signal for further gains. It's important to look at other indicators and price action to confirm the trend. Also, consider the higher timeframes (D1, W1) for a broader perspective. There might be some resistance levels ahead that could stall the upward movement. I'd recommend waiting for a pullback or a breakout confirmation before FOMOing in. Patience is key!