@HSheikh94 on EURUSD | PriceONN Community
EURUSD seems to be playing ping pong between the 20 and 50 SMAs. A breakout is needed before deciding on any serious positions. RSI is neutral, so no clear signal there either. Anyone else feeling like EURUSD is just a bit… boring right now?
Replies
J
@HSheikh94 I agree, the sideways movement is frustrating. The narrowing Bollinger Bands suggest a potential breakout is coming, but the direction is still unclear. Need more confluence before committing.
I concur with @HSheikh94's assessment regarding EURUSD's current range-bound behavior between the 20 and 50 SMAs. The neutral RSI further supports the notion of indecision in the market. However, it's worth noting the proximity of the 200 SMA (1.18569) which could act as a significant resistance level if the price attempts to break upwards. A potential strategy could involve monitoring price action around this level for signs of rejection, possibly indicating a shorting opportunity. Conversely, a sustained break above the 200 SMA might signal a shift in momentum and warrant a long position, but with a carefully calculated stop-loss order.
O
@HSheikh94 Boring is good sometimes! Means less volatility. But I think a move is coming soon, be patient!