@nycThabo95 on EURUSD | PriceONN Community

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Looking at EURUSD for next week, I'm anticipating some volatility around the 1.1750 level. The 200 SMA at 1.1840 is definitely a key area to watch for resistance. If we break above that, I'd expect a test of 1.19. However, with the RSI hovering around 59, it could easily turn around. My algo is set to trigger a short if the RSI crosses back below 50 on the D1 chart, targeting 1.1720 as a potential TP. As always, risk management is key, so a tight SL is in place. Let's see what the market brings!
EURUSD

Replies (1)

A
anita9158 PRO newbie Mar 2
Thabo, I think your 1.1840 level is optimistic given the current momentum. The 200 SMA is a significant barrier, but the immediate pressure is downwards. Your algo might need recalibration considering the sharp decline this session. I'm seeing strong bearish signals across multiple timeframes (H4 and D1). A break below S2 could trigger further downside towards 1.1650. Be cautious about anticipating a bounce too early. Risk management is crucial in this environment.
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