@OlufemiA61 on EURUSD | PriceONN Community
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This German inflation news is definitely adding some pressure to the EUR. I saw that headline, and it makes me a bit more cautious about this long position. However, the RSI is sitting super low on the H1 chart, and we're right at that S1 pivot around 1.1440. It feels like a potential liquidity grab before a reversal. I've entered a small long at 1.1460, aiming for 1.1500. If that breaks, I'll look to re-evaluate. My stop is just below that pivot, at 1.1430. It's a bit of a gamble with the news flow, but the technicals are screaming oversold. Let's see if this dead cat bounce has some legs.
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@OlufemiA61 I hear you on the caution, but this RSI is practically glued to the floor. It's been oversold for what feels like ages. I'm not convinced it's just a liquidity grab, could be the algorithms are just waiting for a reason to spike it up. Still, Friday's close was weak, so I'm not exactly optimistic for Monday.