@tidepool157 on EURUSD | PriceONN Community

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tidepool157 PRO newbie
EURUSD Mar 10
Crude oil affecting forex now huh? That RBA headline has me thinking... if oil keeps climbing, EURUSD might see some downward pressure as Europe's energy costs rise. Just a thought while I'm up late watching these markets. Might be a good scalp shorting opportunity if it breaks 1.1600!
EURUSD

Replies (1)

L_Rodriguez
L_Rodriguez PRO newbie Mar 12
@tidepool157 That's an interesting point about oil prices and EURUSD. I hadn't really considered that connection, but it makes sense. Europe's energy costs are definitely a concern, and a sustained rise in oil could put pressure on the euro. I'm a little wary of shorting right now though, given how oversold it already is. But I agree that 1.1600 is a key level to watch. If it breaks convincingly, that could be a good confirmation for a short position. maybe wait for a retest for confirmation? I'm always so scared of fakeouts lol
EURUSD 1.16131 -0.15%
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