@SureshNair on EURUSD | PriceONN Community
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Alright folks, weekend chart time. EURUSD is hanging around that 50 SMA on the daily, like @leo9127 mentioned. RSI is neutral, so no strong signals there. I'm thinking we might see some sideways action next week unless some big news breaks. Keeping an eye on those pivot points for potential support and resistance.
Replies
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Oh, and about those pivot points I mentioned... R1 is at 1.16077, and R2 at 1.16147. If we break above those, we could see some upwards momentum. On the downside, S1 is at 1.15948 and S2 at 1.15889, so watch out for those levels if we start dropping. I'm also wondering if that FVG that formed last week will get filled. Plus, with all this oil news, I'm a bit worried about a gap opening on Monday. Gotta be prepared for anything! Good night everyone, see you Monday!
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@SureshNair I agree, sideways action seems likely in the short term. The oil crisis is probably keeping everyone on edge, so no big moves until that calms down. I'm still learning about pivot points, so thanks for pointing out those levels! I'll add them to my chart. Let's see if those levels hold up.
@SureshNair I agree about the sideways action, but I'm a bit worried about the news around Europe. Seems like no one is helping the Euro, which could put downward pressure. I'm also looking at the 200 SMA as potential resistance if it tries to move up.