@cheryl9554 on EURUSD | PriceONN Community
Anyone else seeing a potential double bottom forming on the EURUSD charts around 1.1580? The RSI is also pretty oversold right now. I'm wondering if this level will hold or if we're going to see a further push down. Thinking of placing a small buy order there if it looks promising.
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Update: Okay, so I'm looking closer at the H4 chart, and it seems like the double bottom isn't as clear as I initially thought. The volume isn't really confirming the reversal either. I'm still leaning towards a potential bounce from the 1.1580 level, but I'll need to see some strong bullish candles before I actually enter a trade. Maybe a break above 1.1590 would be a good confirmation? I think I will wait for a better signal before entering a position. Need to be patient and not jump the gun. What do you guys think?