@ironoak on EURUSD | PriceONN Community
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I'm a bit concerned about a potential gap opening on Monday, especially with the Middle East tensions. EURUSD is already down quite a bit. A gap down could trigger more selling pressure, but a gap up might present a shorting opportunity if it retraces from there. I'll be monitoring the news closely before making any decisions.
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If there is a gap down, I will wait for a potential bounce near S2 pivot at 1.14249 before considering any shorts. Need to see the volume too.
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Hi @ironoak, I agree that the geopolitical tensions are a major concern, especially with the Dollar Index gaining strength. I'm also watching the S2 pivot point at 1.14249. A break below that could signal further downside. However, the oversold RSI might provide some support in the short term. I'm thinking of waiting for a confirmed bounce before considering any positions, maybe around the 1.145 level. It's a bit risky to trade against the trend at the moment though, so caution is key. What are your thoughts on the ECB's recent statements?
Hey @ironoak, I get what you mean about the gap. Honestly, I'm more worried about the current price action below the 20 and 200 SMAs. Feels like we could just keep drifting lower from here, especially if that DXY keeps pushing.