@melJoshua on EURUSD | PriceONN Community
Well, EURUSD closed out the week above the 1.17 level, which is good to see after all that volatility. The RSI is still in bullish territory but not overbought yet. I'm expecting a bit of a gap open on Monday, especially with the dollar showing some resilience despite the easing geopolitical tensions. Will be watching to see if that 1.1720 resistance holds or if we push towards R1 at 1.17206.
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The key will be how the market reacts to the Fed's stance on inflation and jobs. If they signal a hawkish tone, that could put pressure on EURUSD, but for now, the chart looks decent.
J
Hey @melJoshua, yeah I agree with you about the close being above 1.17, that felt like a win after all the craziness. My main worry for Monday is that gap open though, feels like it's always a gamble with EURUSD. You're right about the Fed too, if they drop some hawkish hints it could totally reverse this bullish momentum we saw. I'm just sitting on my small position from Friday, hoping it doesn't get wiped out by a surprise move. Fingers crossed it holds up!