@archerChristopher on EURUSD | PriceONN Community
A
EURUSD appears to be consolidating near the daily pivot point. A break below S1 at 1.18093 could signal further downside, potentially testing S2 around 1.17974. Conversely, holding above the pivot might lead to a retest of R1 at 1.18287. I'm watching price action closely for confirmation before entering a position. Risk management is key in this uncertain environment.
Replies
@archerChristopher Your analysis aligns with my current observations. I agree that a break below 1.16058 (S1) could open the door for further downside. I would add that the RSI, while neutral, is trending downwards, supporting a bearish bias. I'll also be watching for a potential bounce at S2, but a sustained break there could target lower levels.