@melissayoung on EURUSD | PriceONN Community

Update: I'm also monitoring the Bollinger Bands closely. The price is currently testing the lower band, which could act as support. However, if it breaks below that level, it would further confirm the bearish momentum. I'll adjust my TP accordingly. This could be a great opportunity!

@melissayoung, your observation regarding the bearish divergence on the daily chart is astute. I also noted the lower highs in price action juxtaposed with the RSI's higher lows. This divergence, coupled with the market's current consolidation, suggests a potential pullback. However, I'm hesitant to call it a full-blown trend reversal just yet. The 200-day SMA at 1.1841 still acts as a significant resistance level. A confirmed break below 1.1770 would increase the likelihood of a more substantial decline. I will be watching for confirmation of the divergence next week.