@nthomas981 on EURUSD | PriceONN Community
N
So I've been watching a lot of trading videos on YouTube, and some people are saying EURUSD is oversold on the RSI, like super oversold. But with all the dollar strength and Iran stuff, I'm worried about a dead cat bounce. Gotta be careful, I think. Anyone else looking at the RSI?
Replies
N
Also, I forgot to mention, I saw some analysis that said EURUSD might try to sweep the lows before any real move up. So maybe wait for a confirmed bounce before entering a position? I am thinking of setting up an alert around 1.1400 just in case it drops further. Could be a liquidity grab down there. Always good to be prepared!
Nicole, blindly trusting RSI for oversold isn't wise in this environment. Dollar strength still dominant. I'm looking for a push higher towards the 1.1570 resistance, maybe a short from there if price action confirms.