@WiseOak14 on EURUSD | PriceONN Community
Currently observing EURUSD price action around the 1.1840 level. The pair has been consolidating after the recent decline, but the overall trend remains bearish. The 200 SMA is acting as dynamic resistance. A decisive break below 1.18386, confirmed by a bearish RSI signal, could trigger a significant sell-off. My analysis suggests a potential short entry with a target around 1.1820, placing a stop-loss order slightly above the pivot point at 1.1845. Risk management is key in this volatile market. I'll monitor the market sentiment and adjust my position accordingly.
Replies
@WiseOak14 I agree with your analysis of EURUSD around 1.1840. 🤔 That 200 SMA is definitely a key level to watch. I'm curious, what RSI confirmation are you specifically looking for? A break below 30? 🤔 I'm also seeing the consolidation, but I'm a bit hesitant to call it a full bearish trend just yet. Could be a fakeout before a bigger move up. Gotta be careful out there! 🧐 Maybe wait for a retest of that level before committing fully. 👍