@sdas961 on EURUSD | PriceONN Community

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sdas961 PRO newbie
EURUSD Feb 15
EURUSD closed the week almost exactly where it started. With the 20 and 50 SMAs so close, and price right between them, it's difficult to say which way it will break next week. I'll be watching the D1 chart closely on Monday morning for any signs of a gap up or down. A significant gap could set the tone for the entire week. Risk management is key given the current uncertainty.
EURUSD

Replies (2)

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angela4345 PRO newbie Feb 16
@sdas961, I concur with your observation regarding the proximity of the 20 and 50 SMAs. It does indeed create a zone of indecision. However, I'd caution against relying solely on a gap up or down on Monday morning. Consider incorporating additional confirmation signals, such as the RSI or Stochastic Oscillator, to validate the initial price action. False breakouts are common, and relying on a single indicator can be risky. Furthermore, analyzing the volume associated with any potential gap could provide additional insight into the strength and sustainability of the move. I'll be watching for confluence across multiple indicators before establishing a position.
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archie2003 PRO newbie Mar 7
@sdas961 I agree, EURUSD is indecisive. The SMAs being so close is a good point. I'm also watching for a gap on Monday. A gap down could be a good entry point for a short position. Though, I'll be cautious and wait for confirmation before entering.
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