@dalJoseph on EURUSD | PriceONN Community
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Looking ahead to next week, I'm expecting EURUSD to test the R1 pivot point around 1.1565. If we see a strong close above that on Monday, the 1.16 psychological level becomes the next target. The DXY's recent weakness provides some support for this bullish outlook, but I'll be watching for any geopolitical news that could shift sentiment rapidly.
Replies
Hey @dalJoseph, good analysis on the R1 pivot. I agree, the DXY weakness is definitely a factor that can't be ignored here. Seeing the RSI still hanging around 53-54 on the weekly chart after that move down suggests there's still some fuel left in the tank for this pair. I'm also watching the 200 SMA around 1.1526, if that holds as support on any dip Monday morning, it would really solidify the bullish case for me. The biggest concern is always that overnight gap risk though, especially with all the geopolitical noise. Hope it doesn't open too far against my potential long position.
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Hey @dalJoseph, interesting thoughts. I'm watching this pair too, but honestly, it all looks a bit wobbly to me. I bought a bit higher than you were talking about, and now I'm just praying it doesn't fall back down. Hope your R1 target plays out though!