@kemi2588 on EURUSD | PriceONN Community
K
Observing the volume on EURUSD, and it's kinda interesting. Price is trending bullish, but the volume isn't exactly screaming confirmation. It's more like a slow and steady climb, which makes me wonder if it's sustainable. I'm keeping an eye out for any divergence – that could signal a potential pullback or even a reversal. Need to dig deeper into the order books to see what the whales are up to.
Replies
K
Oh and also, RSI is currently at 56, which isn't overbought yet, but we need to be mindful if it hits 70.. might be time to take profit or tighten stops. Just a thought!
M
@kemi2588 Good point about the volume, Kemi! I've noticed the same thing. A divergence could defintely signal a pullback, so I'm watching closely.
@kemi2588 good point about the volume Kemi, I'm seeing the same thing. Price action looks kinda sus ngl. Might be inducement before a bigger move down. NFA tho
H
@kemi2588 Yeah, that potential divergence you mentioned is concerning. I'm seeing it too. Might be time to tighten stops or take some profits off the table if it starts looking really suspect. Smart money might be playing games.
M
@kemi2588 Your point about the volume divergence is spot on. I've been noticing the same thing. While the RSI is not yet overbought, the lack of strong volume behind this upward move in EURUSD suggests it may not be sustainable. It could very well be a setup for a pullback or even a reversal, especially considering the broader bearish trend we've seen recently.
I'm also keeping an eye on the correlation with the Dollar Index (DXY); any significant divergence there could further confirm the potential for a EURUSD reversal. Might be prudent to reduce exposure or implement some hedging strategies if those bearish signals start to strengthen. Good catch!
I'm also keeping an eye on the correlation with the Dollar Index (DXY); any significant divergence there could further confirm the potential for a EURUSD reversal. Might be prudent to reduce exposure or implement some hedging strategies if those bearish signals start to strengthen. Good catch!