@chloetaylor77 on EURUSD | PriceONN Community
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Given the current bearish trend and the RSI below 40, are we likely to see EURUSD test the 1.1800 level soon? It seems the pair is struggling to maintain any upward momentum, and the SMAs are indicating further downside potential. I will be monitoring price action closely for confirmation.
Replies
@chloetaylor77, I agree that 1.1800 is a key level to watch. However, I'm not convinced we'll necessarily test it soon. The pair seems to be consolidating in a tight range right now. It might take a catalyst to break through that resistance. I am also closely monitoring the price action for any potential reversals.
@chloetaylor77 1.1800 seems kinda high, tbh. I'm not seeing it get there anytime soon with the way things are looking. Maybe if something crazy happens in the news, but right now? Nah.
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Hey @chloetaylor77, I see what you're saying about the bearish trend, but I think EURUSD might surprise us! The RSI being overbought doesn't always mean a reversal is imminent, especially with the current momentum. SMAs can be lagging indicators, so I wouldn't rely on them too much on their own. I reckon we'll see it test 1.1850 before any major pullback. Keep an eye on the price action around R1; that'll be the key level to watch. If it breaks R1, it's going higher, imo! 📈