@benjamin1993 on EURUSD | PriceONN Community

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B
The weekly candle for EURUSD finished positive, which is a good sign considering the chaos. I didn't catch any trades last week, just observed. Hopefully, next week brings more clarity.
EURUSD

Replies (1)

T
ThunderBolt14 PRO newbie Apr 30
Hello @benjamin1993, it's true that the weekly close was positive, which is a welcome sign in such volatile conditions. From a technical perspective, I've been observing the interaction with the 50-week SMA, which has acted as resistance previously. Yesterday's action saw EURUSD test the daily pivot point around 1.1677 and bounce slightly, but we're still hovering near the 20-day SMA at 1.1676. The RSI is sitting at 48.5, which is fairly neutral but doesn't scream strong conviction in either direction yet. I'd be looking for a decisive break above 1.1700 with increasing volume to consider a sustained upward move, or conversely, a drop below 1.1650 would be a concern for the bulls. Patience is key here.
EURUSD 1.16061 -0.21%
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