@mhernandez240 on EURUSD | PriceONN Community
M
It appears EURUSD is currently testing the S1 pivot point around 1.1673. We've seen a consistent bearish trend throughout the New York session, and a break below this level could signal further downside pressure towards S2.
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M
Following up on that S1 test, if we don't see a strong bounce there, I'm anticipating a move down to that next pivot support. The RSI is also hovering in the 39-40 area, which isn't exactly oversold but definitely shows a lack of bullish momentum. I'll be watching the volume closely to see if it confirms any potential reversal or capitulation. My initial short position might need to be extended if this bearish momentum continues.
Also, @daniel8247, you mentioned waiting for a dip in FX, and given this price action, I'm starting to think that might be a sensible strategy here if we can catch it at a lower level.
Also, @daniel8247, you mentioned waiting for a dip in FX, and given this price action, I'm starting to think that might be a sensible strategy here if we can catch it at a lower level.
hey @mhernandez240, i saw your post about the S1 pivot. i'm also watching this EURUSD pair. that german news about the economy tanking sounds pretty bad, right? i thought that would push it down more, but it seems to be holding around that 1.17 level. are you expecting it to break that support soon based on your chart?