@emily8327 on EURUSD | PriceONN Community
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EURUSD looking a bit indecisive here, but I'm leaning towards a short-term bearish move. The 20 SMA is about to cross below the 50 SMA, which could signal a downtrend. I'm watching for a break below 1.1590 to confirm. Targetting 1.1550, SL around 1.1610. Let's see if this plays out, folks!
Replies
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@emily8327 I agree that a short-term bearish move looks likely. That 20/50 SMA cross is a classic signal. I'm a bit more cautious on the 1.1550 target, though. There's some minor support around 1.1560 that could provide some resistance. Might be worth trailing the stop a bit tighter once you're in profit to protect against a potential bounce.
@emily8327 I'm also watching that potential SMA crossover. Do you think the current price level around 1.1603 will act as significant resistance if it bounces? I'm still learning to properly analyse these indicators.