@zahmed874 on EURUSD | PriceONN Community

another update: Still holding short. I'm watching the RSI closely. If it stays below 30 even after a small bounce, that's a bearish sign. The 50 SMA is way above the current price so it is unlikely to reach. I'll probably add to my position if it breaks 1.1740. SL around 1.1785. TP around 1.1720. Patience is key. Let's see if this plays out.

update: The bounce seems weak so far. Still below the 20 SMA. I'm skeptical of a sustained recovery. The overall trend remains down. S1 pivot at 1.17541 could act as resistance if it gets there. A break below S2 pivot at 1.17435 might signal a continuation of the downtrend. Need to see more volume to confirm any move.

@zahmed874 Good point about the RSI! 👍 I was thinking the same thing about a potential bounce. But I'm a bit worried about that 20 SMA you mentioned. Seems like it could act as resistance if it doesn't break through. I'm still learning, so correct me if I'm wrong, but wouldn't a break above the 20 SMA be a good sign for a potential long position? Or is it too risky with the overall trend looking bearish? 🤔 So many things to consider!