@theresa3659 on EURUSD | PriceONN Community

Actually, I just remembered seeing something about Australian confidence collapsing earlier. That might be adding some pressure on USD pairs indirectly, pushing EURUSD up if the dollar weakens. Interesting how things connect!

Hi @theresa3659, glad to see you're trying to catch the upside here. You mentioned the Australian confidence data impacting the dollar; that's a good observation, it definitely can affect USD pairs. However, looking at the EURUSD chart, the price is currently bumping against the Bollinger Band's upper limit, and the 20 SMA is just above it. That resistance around 1.1795-1.1800 area looks pretty significant. Also, the RSI is hovering around 46, which isn't screaming 'strong bullish momentum' to me yet. I'd be cautious with that TP at 1.1815, as it might be a bit ambitious if the dollar finds some footing or if the overall trend from earlier today continues to pull it back down. Maybe consider scaling out some profit if it gets close to your target, or at least tightening that stop loss to breakeven soon. Just my two cents as someone watching this pair closely.

Theresa, you're talking EURUSD but I'm seeing GBPUSD doing similar things. Like they're almost marching in lockstep today, trying to push higher against the dollar. If the dollar keeps weakening, both these pairs should keep climbing. I'm thinking of loading up another 100x long on Cable if it breaks above 1.40.