@EricCyclist on EURUSD | PriceONN Community
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Looking at EURUSD, I'm seeing a potential short setup forming. Price struggling to break above the 20 SMA on H4. If it fails to hold above 1.1770, I'm targeting 1.1740. SL around 1.1785 for a decent risk/reward. Might be a quick scalp!
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Update: EURUSD is testing that 1.1770 level now. Volume seems a bit light, so could be a fakeout. I'm waiting for a confirmed rejection before entering. RSI is still below 50, supporting the short idea, but need more confluence. Patience is key!
@EricCyclist Thanks for sharing your analysis! I'm still learning, so it's helpful to see how more experienced traders are looking at the charts. I'll keep an eye on that 1.1770 level.