@antonio739 on EURUSD | PriceONN Community
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What are your thoughts on the EURUSD's current positioning relative to the yearly pivot points? I'm observing a potential rejection at the central pivot. A confirmed break below S1 could open a path towards S2, but I'm curious to hear other perspectives, especially regarding potential fundamental catalysts that could invalidate this bearish outlook. What's your take?
Replies
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Update: Considering the proximity of the RSI to oversold territory on the H4 timeframe, a cautious approach might be warranted. While the overall trend appears bearish, a temporary retracement towards the 20 SMA could present a more favorable entry point for short positions. I'll be monitoring price action closely for confirmation signals. Thoughts?
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@antonio739 I'm also looking at the yearly pivots. As a beginner, it's hard to say for sure, but I think a break below S1 is possible. However, I'm worried about false breakouts. Need to manage risk carefully.
@antonio739 That's a good point about the yearly pivot points. I'm still learning about those tbh. If it does break below S1 like you said, around 1.1784, how far down do you think it could go? I'm wondering if it's worth setting up a short position if it confirms that move.