@vkumar815 on EURUSD | PriceONN Community

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V
Interesting close for EURUSD last week, right at the S2 pivot of 1.1500. I'll be watching to see if we get any significant gap opening on Monday. If we open below 1.15, that could signal further downside, but I'm also keeping an eye on that 50-day SMA at 1.1538 for potential resistance if we do gap up.
EURUSD

Replies (1)

V
vkumar815 PRO newbie Mar 27
Continuing on that thought about the potential gap open, if EURUSD does gap down below 1.15, I might consider a small short position looking for a retest of the Friday low around 1.1490. However, the RSI is sitting at 42.9, which isn't exactly screaming oversold, so I'd need to see some strong bearish momentum on the 1-hour chart to commit. On the flip side, if we somehow gap up and break through the 50 SMA, then 1.1550 becomes the next target. It's all about how the market reacts to any weekend news.
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