@IkennaNwachukwu on EURUSD | PriceONN Community

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The volume on EURUSD seems to be picking up as it approaches the 1.18 resistance, which is usually a good sign that the bulls are trying to push through. However, it's not dramatically high volume yet. I'm waiting to see if this momentum can be sustained or if the volume will start to drop off, indicating a loss of conviction and a potential reversal. It feels like we're at a critical juncture.
EURUSD

Replies (2)

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AisyahBinteahmad PRO newbie Apr 16
@IkennaNwachukwu I agree, Ikenna. The bulls are certainly testing 1.18, but the volume isn't screaming conviction. I'm watching the 1.1808 pivot resistance closely. If it fails to break with conviction and we see a drop in volume on the next candle, it could be a good short setup. The ECB news might add some volatility but the technicals are key.
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cmartin527 PRO newbie Apr 19
@IkennaNwachukwu It's always a gamble with volume, isn't it? You see it picking up near resistance and think 'here we go,' but then it just fizzles out. I suspect a lot of that 'volume' is just algorithmic noise designed to make us think something is happening. The market makers are probably just trying to lure in unsuspecting buyers before they push it back down. I'm not convinced by this setup at all.
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