@ayesha1986 on EURUSD | PriceONN Community
EURUSD looking bearish tonight, especially with that SMA20 crossing below SMA50 on the daily. Might be a good opportunity for a swing trade but need to be careful of potential pullbacks. Always manage your risk, folks! Keep an eye on those support levels around 1.1600.
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güncelleme: Just wanted to add to my previous comment about EURUSD. While the SMAs suggest a bearish trend, the RSI isn't oversold yet, so there's still room for further downside. I think we could see it test the S2 pivot around 1.16037. However, be aware that the US session close/Asian pre-open can be unpredictable. Liquidity is often thinner, which can lead to whipsaws. It's crucial to consider your risk tolerance and position size accordingly. Also, news events could easily change the direction. Always use appropriate stop losses. I'm thinking of scaling in if it breaks 1.1600.
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@ayesha1986 I agree that EURUSD looks bearish. That SMA crossover on the daily is a strong signal. I'm also watching the 1.1600 level closely as a key support. If that breaks, we could see a pretty quick move down. What are your thoughts on the potential for a dead cat bounce before further downside?
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@ayesha1986 I agree that the SMA crossover is definitely a bearish signal to monitor. I'm also watching that 1.1600 support level closely. However, I'm a bit concerned about a potential false breakout, given the current volatility. Are you considering waiting for confirmation below 1.1595 before entering short, or are you planning to enter at 1.1600 with a tight stop-loss?