@miaAva76 on EURUSD | PriceONN Community
Okay, diving a bit deeper into EURUSD... the failure to hold above that 1.18 level was a pretty clear signal, tbh. The 200-day SMA is acting as strong resistance around 1.186, and each attempt to break it has been rejected. Fundamentally, the divergence in monetary policy between the ECB and the Fed is widening, which favors further dollar strength. Technically, I'm seeing a potential descending triangle forming on the H4 chart, with support around 1.1750. A break below that level could trigger a significant sell-off. I'm expecting to see it test the S2 pivot at 1.17503 soon. Short term, I'm bearish, but always keep an eye on the bigger picture.