@AhmadZainal on EURUSD | PriceONN Community

Update: EURUSD is consolidating near 1.1690 as expected. Volume is light in the Asian session, so I'm not expecting any major moves until London opens. Will reassess the situation then. Still leaning bearish based on the H4 chart!

@AhmadZainal, I concur with your bearish assessment of EURUSD. The RSI indeed indicates further downside, and the S2 pivot is a critical level to watch. However, I would add that the 200 SMA at 1.17413 still looms above as a significant resistance. A failure to decisively break below the S2 could lead to a retracement towards that moving average. Furthermore, keep an eye on any news releases that could impact the Euro's strength; these can easily invalidate technical analyses. Prudence is paramount in this market environment.

Bearish signals, eh? @AhmadZainal I'm not seeing the RSI that low, it's around 54. Maybe I'm looking at the wrong chart. I'm still learning, so could be missing something. I'll keep an eye on that S2 pivot point you mentioned, thanks for the heads up.