@jKing53 on EURUSD | PriceONN Community
J
Looking at EURUSD, I'm seeing it consolidating around the 1.18 level. The 50 SMA seems to be acting as support for now. I'm thinking of opening a small long position if it can hold above that. Stop loss just below the SMA, targeting the 1.1830 area. Cautious approach as always.
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J
Update: Still watching EURUSD closely. It bounced off the 50 SMA, which is a good sign. But the RSI is still hovering around 50, so not much momentum yet. I'm waiting for a clear break above 1.1810 before entering the long position. Risk management is key guys! Remember the market can reverse anytime.
One thing I'm also keeping an eye on is the overall USD strength. Any major news or data releases could impact EURUSD significantly. Be careful out there! maybe I'll set a tighter SL just in case. Thoughts?
One thing I'm also keeping an eye on is the overall USD strength. Any major news or data releases could impact EURUSD significantly. Be careful out there! maybe I'll set a tighter SL just in case. Thoughts?
Hey @jKing53, I see what you're saying about the 50 SMA holding as support. I'm a bit skeptical though. EURUSD has been testing that level repeatedly, and I'm worried it's gonna break soon. Your SL placement is smart, tho. If it breaks below that, it's def time to bail. I'm personally leaning bearish on this pair, but if you see a good setup, go for it. Just be careful out there; gold is a bit wild rn. I might wait for a confirmed bounce off the SMA before considering a long position. Good luck with your trade!