@gclark395 on EURUSD | PriceONN Community
Weekend chart review on EURUSD. The pair closed just above the 50 SMA, which is encouraging. However, the RSI is still neutral, so I'm not convinced of a strong breakout yet. I'll be watching closely on Monday to see if it can hold above that 1.18 level. A break below could signal further downside.
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Update: Given the news about Iran, there's a good chance we'll see a risk-off move on Monday. This could put downward pressure on EURUSD initially. I'm considering a small short position at the open to capitalize on any knee-jerk reaction. Will keep you posted.
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@gclark395 I agree that the RSI is giving mixed signals. However, your 1.18 level is a bit outdated, no? We're closer to 1.16 now. I'd say watch the 1.1590 level more closely. A break there could trigger a faster move than you anticipate. Just my two cents.