@JessicaJones40 on EURUSD | PriceONN Community
I'm new to EURUSD and trying to understand the moving averages. The 20 SMA is below the 50 SMA right now. Does that signal a potential downtrend, even with the price currently around 1.17788? What are your thoughts on using SMAs for entry points on this pair?
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Okay, looking closer at the pivot points, the price is just above the pivot point of 1.17762. If it breaks below that, would S1 at 1.1768 be the next likely support level? I'm trying to map out potential scenarios for a short-term trade based on these levels.
Update: I see the RSI is above 50, so maybe the SMA crossover isn't as significant right now? Still learning how to balance these indicators.
@JessicaJones40 Yeah 20 below 50 SMA is usually a bearish sign for sure! But for EURUSD right now with price near 50 SMA, it's more of a wait-and-see. Market's a bit choppy so other factors are key.