This EURUSD move down today feels a bit sharp, doesn't it? RSI is really oversold on the hourly, around 30. Wondering if we're seeing a bit of profit-taking from yesterday's longs, or if this is the start of something bigger. Anyone else seeing a clear direction here?
Actually, thinking about it more, the 200 SMA is still way up around 1.1540. So even with this drop to 1.1468, we're still technically in a range for the longer term. Might be a good spot for a bounce if we don't see further downside from this recent news.
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david96PROnewbieMar 24
Hey @chloehughes74, regarding that hourly RSI dip you're seeing, I'm curious what your thoughts are on the 200 SMA at 1.1540. If price tests that area again, are you looking for a bounce there, or do you think a break below could signal a more significant shift given the recent choppy action?