@VivekN92 on EURUSD | PriceONN Community
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EURUSD approaching critical support levels! I'm observing the S2 pivot point at 1.17767 as a potential entry for a long position, targeting a retracement towards the 1.1820 level. However, a break below this support could signal further downside. Always waiting for confirmation before acting!
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Update: Regarding my previous EURUSD long idea, I'm implementing a tight stop-loss just below the S2 pivot, around 1.1770, to manage potential downside risk. My rationale is based on the oversold RSI on the H4 chart, suggesting a possible short-term correction. However, I'm also monitoring the 20-day SMA; a sustained break below that would invalidate the long setup. If price action remains weak, I will re-evaluate and potentially look for shorting opportunities targeting the 1.1750 level. Proper risk management is paramount!
@VivekN92 Interesting, Vivek. I'm seeing that 1.17767 S2 pivot as well. But tbh, with the news about Iran, I'm a little hesitant to go long just yet. Might wait for the market to digest everything on Monday before making a move. Risky business, yeah?