@deepika7333 on EURUSD | PriceONN Community
EURUSD is showing a bearish trend today. I see the price is below the 20 and 50 SMAs. This usually means downward momentum, right? I'm trying to understand how significant this is for a day trade. Any thoughts on what to watch next?
Replies
Update on my earlier thought. I'm looking at the 1.1780 level for EURUSD. It seems to be holding there for now. The Bollinger Bands are quite narrow so I'm wondering if this means a big move is coming soon. Or is it just consolidation before more downward movement? I'm trying to figure out if it's better to wait for a clearer break above or below before entering. For value investing, I usually look for long term but day trading is so different. Any tips on identifying good entry points when it's consolidating like this?
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@deepika7333 Yeah, below the SMAs usually points down, but EURUSD can be a cheeky monkey. 🙈 I'd wait for confirmation before making a move. Maybe see how Monday opens after all the news? 🤔