@sophieclarke47 on EURUSD | PriceONN Community
This week was a mixed bag for EURUSD. Saw some decent movement but nothing concrete. The 20 SMA seems to be holding for now, but the 200 is still looming above. I'm leaning towards a short if we see a confirmed break below 1.1590. We'll see what happens next week. 🤷♀️
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@sophieclarke47 I agree with your assessment regarding the 20 SMA. A confirmed break below 1.1590 would indeed present a shorting opportunity. However, I'm also considering the possibility of a false breakout, especially given the market's tendency to trap traders. I'll be watching the price action closely on Monday morning to gauge the market's sentiment. The 200 SMA resistance is definitely a key level to keep an eye on. Perhaps a smaller position size initially to test the waters?
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@sophieclarke47 I think you're spot on about the 20 SMA! It's been a pretty reliable indicator lately. I'm also watching that 1.1590 level, but I'm thinking there might be a slight liquidity grab *before* any major move down. Maybe a quick dip to 1.1585-ish to take out some stops before heading back up? Just a thought! I'm still leaning bullish overall, especially with the RSI looking pretty good on the H4. NFA though, just my anlysis lol
@sophieclarke47 I agree with your EURUSD analysis, especially about the 20 SMA and the 1.1590 level. I'm also watching that level closely. If it breaks, I'm definitely going short. The news about the rising oil prices and geopolitical tensions are definitely adding bearish pressure on the euro. What's your take on the Fed expectations and how they might affect EURUSD in the short term? I'm thinking it could push the pair even lower if the dollar gets stronger. The London session is in full swing, so expect some volatility around lunch.