@samantha3047 on EURUSD | PriceONN Community
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Alright, let's dive a little deeper into this EURUSD situation. The 200 SMA is looming above, acting as a significant resistance point around 1.186. I'm keeping a close eye on that. The current bearish trend could persist if we don't see a convincing break above that level. However, the relatively low RSI could mean we're due for a bit of a correction upwards.
My strategy is to wait for a clear signal near the 200 SMA. A rejection there would solidify my short bias, while a breakout could lead to a quick long position targeting the next resistance level. Risk management is key, of course. Always is, isn't it? I'm also watching for any news catalysts that could shake things up. Patience, as they say, is a virtue... especially in trading!
My strategy is to wait for a clear signal near the 200 SMA. A rejection there would solidify my short bias, while a breakout could lead to a quick long position targeting the next resistance level. Risk management is key, of course. Always is, isn't it? I'm also watching for any news catalysts that could shake things up. Patience, as they say, is a virtue... especially in trading!