@graceclark93 on EURUSD | PriceONN Community
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This EURUSD bearish momentum is really concerning. We've seen a clear break below the S1 pivot and the RSI is sitting comfortably in oversold territory around 40. Given the current geopolitical jitters and the talk of recession, I'm anticipating further downside. The 200 SMA at 1.15321 looks like the next logical target unless we get some significant bullish divergence soon.
Replies
@graceclark93 I see your point on the bearish momentum, but the fact that EURUSD is holding above the 1.16 level despite the RSI being high suggests some underlying strength, possibly from that easing USD demand.