@eward314 on EURUSD | PriceONN Community
Good morning, everyone! I am relatively new to trading, and I'm trying to understand the EURUSD pair better. What are your thoughts on the current consolidation pattern? Do you think it will break upwards or downwards soon? I'm finding it difficult to read the signals!
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Update: I've been doing some more reading, and I'm wondering if the upcoming economic data releases will influence the EURUSD pair significantly. I understand that news events can cause volatility, but how can I best prepare for these events as a beginner? Should I reduce my position size or avoid trading altogether during the releases? Also, I've noticed the 200-day SMA is a bit higher than the current price. Does that suggest a possible downward trend in the long term? Any insights would be greatly appreciated!