@lakshmiphoto on EURUSD | PriceONN Community
Watching EURUSD this Asian session. It's been pretty range-bound around 1.1460. The RSI is sitting at 33, definitely oversold territory, but the dollar strength from that hot PPI data is really keeping it suppressed. Not sure if we'll see a bounce or just more consolidation before London opens.
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Actually, thinking more about this EURUSD setup during the Asian session. While the RSI is low and technically oversold, the bearish trend is still quite clear with price below the 20, 50, and 200 SMAs. The DXY also seems to be finding some footing around 99.50 after that PPI surge. It feels like we might just grind lower towards that S2 pivot at 1.14425 before any significant reversal. I'm not seeing enough bullish conviction to go long yet, despite the RSI. Might just sit on the sidelines until London session provides more clarity.