@joshuawalker on EURUSD | PriceONN Community

Yeah, so I was saying about the SMAs, the 50 is around 1.1525 and the 200 is near 1.1549. It's just hovering right in there, and the price is 1.1548 now, so basically right at the 200 SMA which is acting like resistance. It's making me nervous because I'm trying to learn what to do here. Should I be looking to short it if it can't break that 200 SMA? Or is it possible it'll just push through it later? That dollar news about its safe-haven status fading is confusing me too, I thought the dollar was supposed to be strong right now with all that geopolitical stuff going on.

Hello @joshuawalker, I see your point about the SMAs. It does appear to be consolidating. However, I'm looking at the chart and I'm seeing something that resembles an ascending triangle forming on the H4 timeframe. The price action has been creating higher lows while the resistance level around 1.1550-1.1560 has held firm. This pattern, if it plays out, typically suggests a breakout to the upside. The current bearish momentum might just be a temporary pullback within this larger bullish structure. I'm leaning towards a potential move higher once this consolidation phase resolves, especially if we can break convincingly above that R1 pivot point near 1.15415 and then clear that 50 SMA.