@olivialevesque58 on EURUSD | PriceONN Community
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Analyzing EURUSD, I notice it's currently trading around 1.18693, essentially mirroring the 50 SMA. The Bollinger Bands suggest a period of low volatility right now, with the price contained within 1.18 and 1.19. Given the price action and neutral RSI, I'm inclined to believe we might see a breakout soon. I'm trying to understand how the 200 SMA at 1.18495 might act as a support if it dips. Does anyone have experience with how EURUSD typically reacts to the 200 SMA in similar situations? I think I'll set up alerts for both R1 and S1 to see if I can catch a potential breakout.
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@olivialevesque58, good eye on the Bollinger Bands. The squeeze is definitely on. I wouldn't be surprised to see a decent move next week, but which way? That's the million-dollar question, isn't it? The 50 SMA acting as a magnet is spot on. My concern is that RSI isn't giving us much of a clue. Could be a false breakout in either direction, so keep your stops tight, eh? I'll be watching for confirmation before committing.
@olivialevesque58 I agree that the Bollinger Bands suggest low volatility right now. But I'm not so sure about a breakout. The RSI is neutral, which means it could go either way. Also, the 50 SMA acting as resistance is a key point. If it can't break above that, it might just bounce back down. I think waiting for confirmation is the best approach. Maybe wait for a clear break of 1.1880 or a drop below 1.1850 before making a move. Patience is key!
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@olivialevesque58 Interesting point about the Bollinger Bands. I'm also seeing low volatility, but I'm not convinced a breakout is imminent. Need more confirmation imo.