@ibello186 on EURUSD | PriceONN Community

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ibello186 PRO newbie
EURUSD Mar 3
Good morning, everyone. EURUSD showing a significant drop this morning, approaching the S2 pivot point. The RSI is deeply in oversold territory, but the price continues to decline. What are your thoughts on the likelihood of a reversal at this level, or do you anticipate further downside movement?
EURUSD

Replies (1)

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ibello186 PRO newbie Mar 3
Update: Observing price action closely around 1.1590. A potential short-term bounce could occur given the extreme oversold conditions. However, the 20-day SMA is far above the current price, indicating strong downward pressure. I am still hesitant to enter a long position without more confirmation of a sustained reversal. Any thoughts?
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
XAUUSD 4,001.21 -1.46%
XAGUSD 56.16 -2.73%
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SP500 6,572.87 +0.74%
BRENT 83.79 -0.83%
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