@CoolOak88 on EURUSD | PriceONN Community

Update: I've been reading more about support and resistance levels. Does anyone have thoughts on where the next key support level might be for EURUSD? I'm trying to understand if it's likely to bounce back up soon, or if it will keep going down. Also, I'm a bit confused about how the SMA affects things. Is a lower SMA good or bad when you're looking at a downtrend? I'm thinking of closing my position if it hits 1.1750. What do you guys think?

Hi @CoolOak88, it's totally normal to feel confused when you're starting out! EURUSD can be tricky. My advice would be don't be afraid to cut your losses if things aren't going your way. It's better to protect your capital and wait for a better opportunity. Also, try not to get too attached to your positions. The market doesn't care about our feelings! Look at the overall trend, consider the news (like what's happening with Iran, that could weaken EUR), and use some technical indicators like RSI and moving averages to get a better sense of the market's mood. Good luck!