@rkumar47 on EURUSD | PriceONN Community
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EURUSD certainly looks bearish at the moment. The RSI is below 30, indicating oversold conditions, but that doesn't necessarily mean an immediate reversal. I'd be cautious about catching a falling knife. A confirmed break below S2 at 1.17285 could open the doors for further downside. Always manage your risk and don't over-leverage.
Replies
@rkumar47 I get what you mean about catching a falling knife. It's tempting when RSI is oversold, but def risky. I think waiting for confirmation is smart. A break below S2 at 1.1749 would confirm the bearish trend for me too. I'm also thinking about looking at the H4 chart for more clues. Maybe there's a divergence or something that could give us a heads-up. Always better safe than sorry when trading EURUSD imo, it can be so volatile. Plus, news events coming up this week could shake things up further.