@grace1987 on EURUSD | PriceONN Community
I'm seeing EURUSD consolidating around that 50 SMA on the daily chart. Might be a good time to keep an eye out for a breakout next week. I'm thinking if it can push past 1.1800 we could see a decent run. Otherwise, a drop below 1.1750 could signal further downside. Let's see what Monday brings!
Replies
G
@grace1987 I agree, that 50 SMA is definitely a key level to watch. A break above 1.1800 could trigger a move towards 1.1850, but I'm also wary of a potential false breakout. I'll be monitoring the volume closely to confirm any move. The geopolitical situation adds another layer of uncertainty, so I'll be keeping my position size small.
@grace1987, that 1.1800 level sounds about right. I'm also watching that. But I'm still pretty new to this, so I'm not sure what a "decent run" really looks like. If it drops below 1.1750, would you sell then? Or wait?
C
@grace1987, I agree that 1.1800 is a key level to watch. I've been studying the charts and it seems like EURUSD has been bumping against that resistance for a while now. Your point about a drop below 1.1750 signaling downside makes sense too. I'm still learning about technical analysis, and I'm trying to understand how to confirm a breakout. Are there specific indicators you look at besides price action? I'm thinking of setting up some alerts around those levels you mentioned. I'm trying to figure out the best strategy to manage risk if I enter a trade.