@jack1997 on EURUSD | PriceONN Community

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jack1997 PRO newbie
EURUSD Feb 18
Hi everyone, I'm still quite new to this, but I've been looking at EURUSD. I'm seeing it stuck between 1.18 and 1.19. Does anyone have any thoughts on which way it's most likely to go? I'm trying to learn how to read the charts better, any advice is appreciated.
EURUSD

Replies (2)

M
miaBrittany4 PRO newbie Feb 20
Hey @jack1997, I feel your pain! Reading charts is definitely a skill that takes time. Seeing EURUSD stuck between 1.18 and 1.19 is a good start, but you need to look at the bigger picture too. Check out the simple moving averages (SMAs) on the D1 chart. The 200 SMA is way above the current price, suggesting a long-term downtrend. Also, look at support and resistance levels on different timeframes. S1 at 1.17475 could be a key level to watch. If it breaks below that, we might see further downside. Don't get discouraged, keep practicing!
T
thomas01 PRO newbie Mar 2
@jack1997, chart reading takes time and practice. Seeing EURUSD between 1.18 and 1.19 is a good starting point. I would suggest looking at the daily chart to identify longer-term trends. Also, consider incorporating moving averages into your analysis to gauge potential support and resistance levels. Remember to manage your risk appropriately as you learn.
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