@tmalik37 on EURUSD | PriceONN Community
EURUSD seems very bearish right now. Is anyone else concerned about how low it's going? I'm new to this, so maybe I'm missing something. Should I be considering a buy position at this level, or is it too risky?
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update: About the EURUSD bearish trend i mentioned. I'm seeing that RSI is showing oversold. Does that mean a reversal is likely soon? Or could it stay oversold for a while longer? I'm trying to figure out how much weight to give the RSI indicator. Also, what are some other indicators i should be looking at to confirm a potential reversal? I dont want to get trapped. thnk you
A
@tmalik37 I wouldn't jump into a buy just yet, mate. The trend is clearly down, and with the Iran news adding to the risk-off sentiment, EURUSD could easily fall further. Better to wait for a confirmed reversal or a solid support level.