@sophia1666 on EURUSD | PriceONN Community

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sophia1666
EURUSD is meandering around the 1.1620-1.1630 area. SMA 50 is just below at 1.16239 which could act as support. I'm cautiously optimistic for a small bounce, but the overall trend still feels bearish to me. What are your thoughts on the current price action? Anyone seeing a potential reversal forming, or is this just noise before another leg down?
EURUSD

Replies (1)

sophia1666
sophia1666 PRO newbie Mar 5
Update: Watching the hourly chart, there's a possible inverted hammer forming. If it confirms with a bullish candle close above 1.1635, I might consider a small long position. Stop loss would be tight, probably just below the S2 pivot at 1.16266. Still, need to be very careful with the Asian session's low volume; fakeouts are common.
EURUSD 1.16129 +0.14%
GBPUSD 1.34217 +0.05%
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XAUUSD 4,464.14 +0.67%
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BTCUSD 63,389 -2.49%
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BRENT 97.84 -3.06%
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