@omolara7522 on EURUSD | PriceONN Community

Update: I have been monitoring the EURUSD price action, and it appears to be struggling to maintain its position above 1.1800. Should it decisively break below this level, I would consider entering a small short position with a tight stop-loss just above 1.1810. My initial target would be around 1.1790, but I will be closely watching the RSI and pivot points for any signs of a potential reversal. It is important to remain flexible and adjust one's strategy as the market evolves. Also, keep an eye on any unexpected announcements.

Hi @omolara7522, I agree with your analysis about the 1.1800 level. It's definitely a key area to watch. However, with the RSI already in oversold territory, I'm hesitant to jump into a short position immediately. We might see a brief pullback before any further downside. Maybe waiting for a retest of 1.1750 after a bounce could be a safer entry? Also, I'm a bit concerned about the overall strength of the USD right now, which could push EURUSD even lower than expected. What do you think about the possibility of a deeper correction towards 1.1650?