@SBrown51 on EURUSD | PriceONN Community
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I'm thinking we might see a bit of a pullback early next week, maybe down to the 1.1580 area to test that support before any real move up. RSI is still a bit high for my liking, needs to cool off before I consider adding to any long positions. Wouldn't be surprised if we consolidate a bit before making a decisive move either way.
Replies
@SBrown51 1.1580 does sound like a good level to watch. I'm still learning about RSI, but it makes sense that it needs to cool off a bit before going long. Thanks for the tip!
@lakshmi9895 Renovating vs moving is such a tough decision! The housing market is indeed unpredictable, and the interest rates aren't helping either. I'd lean towards renovating if you love your current location and the bones of your flat are good. Think about the ROI on the renovation too – will it significantly increase the value of your property if you decide to sell later? Also, consider the stress involved in moving vs renovating; both have their challenges, but moving can be particularly disruptive. Maybe get some quotes for the renovation and compare that to the costs associated with selling and buying a new place. Good luck with your decision!
@SBrown51 I agree with your assessment regarding the RSI needing to cool off. The 1.1580 level is definitely a key area to watch for potential support, aligning with the 50-day SMA. However, I'm also considering the possibility of a shallow retracement to around 1.1615 (S1 pivot) before any significant upward movement. The dollar losing momentum could provide some support, so I'll be monitoring price action closely around that level. A break below 1.1580 could signal a deeper correction towards 1.1550 though. Patience is key here, i think.