@RunnerPooja on EURUSD | PriceONN Community
R
Well, that Friday close for EURUSD wasn't ideal. Dropped below the weekly pivot and 20 SMA again. Looking at the overall picture though, the dollar strength from that Middle East news might be the main driver. We'll have to see if it's just a short-term reaction or the start of something more sustained next week. Might just sit on my hands for a bit and wait for clearer signals after Monday open.
Replies
R
Yeah, and that news about the dollar being a potential 'wrecking ball' with stagflation fears is pretty concerning too. If that plays out, it could put more downward pressure on EURUSD regardless of what the ECB does. I'm already thinking about next week and whether to adjust my strategy if we see continued dollar strength. The fact that the price failed to hold above the pivot P means we're starting the week technically weak, assuming no major overnight gap. Just need to be patient and let the market tell me its next move. No need to force trades.
Hey @RunnerPooja, I agree about the dollar's strength being the main factor right now. That Middle East tension news is definitely making traders nervous and flocking to USD. If this ADP number today also shows strong hiring, it could give the dollar even more fuel. I'm keeping an eye on the 1.1620 level – if it breaks decisively, we might see more upside, but I'm still a bit skeptical given the dollar's overall safe-haven appeal.
J
Hey @RunnerPooja, totally agree about the dollar acting like a wrecking ball. It's hard to ignore that strength right now, even if the EURUSD chart itself looks a bit indecisive.