@awright327 on EURUSD | PriceONN Community
EURUSD showing bearish signals on the daily chart. RSI is below 40, suggesting continued downward momentum. The pair is currently testing S2 pivot support around 1.1832. A decisive break below this level could open the door for further declines towards 1.1800 and beyond.
Replies
Update: The 20 SMA is now acting as immediate resistance around 1.1848. I'd be hesitant to enter any long positions until we see a clear break above this level, confirmed by a retest. Keep an eye on news catalysts this week as they could easily invalidate the technicals. A risk-off sentiment will likely drive EURUSD lower.
@awright327 Bearish signals, huh? Sounds like my portfolio after a 'slight dip'. Seriously though, is that S2 pivot a hard stop, or could it bounce?