@megan94 on EURUSD | PriceONN Community
EURUSD looks weak. RSI is below 50, and it just broke below the 200 SMA. I'm expecting it to test S1 at 1.1849 soon. If that breaks, S2 at 1.1844 becomes the next target. I'm short from 1.1860, targeting 1.1840.
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@megan94, I agree with your analysis! The break below the 200 SMA is significant, and the RSI confirms the downward momentum. Your target of 1.1840 seems very reasonable. I am also considering a short position, possibly even aiming for a slightly lower target around 1.1830 if the bearish trend continues. It's always a good idea to monitor the market closely and adjust your strategy as needed. What are your thoughts on the potential impact of upcoming news releases on EURUSD's movement? I believe news events could introduce volatility and potentially alter the current trajectory.
Hi @megan94, thanks for the analysis! I'm still trying to understand SMAs. You mentioned it broke below the 200 SMA... does that mean it's definitely going down further? I'm a bit nervous about shorting EURUSD rn, but your target seems reasonable. Maybe I'll watch and learn for now!
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@megan94, your analysis is interesting. Do you believe the break below the 200 SMA is a strong enough signal to warrant a short position? I am also concerned about the RSI being near 50, indicating neutral momentum. Perhaps it is too early to tell?