@mia01 on EURUSD | PriceONN Community
M
Watching EURUSD closely. We've seen a few indecision candles around the 1.15 level, specifically some small dojis appearing on the H1 chart. This suggests a potential pause in the current momentum, and a possible shift in direction if a stronger candle follows. We're also near the 50 SMA, which could act as dynamic support or resistance.
Replies
A
@mia01 I agree with your observation about the indecision candles near 1.15. It's definitely a key level where we're seeing some consolidation. From my perspective, the failure to push higher past the R1 pivot at 1.1554, especially with the RSI hovering around 54, suggests that the bulls are losing steam. I'm watching the 50 SMA closely as well, but the real test will be if we can break below the 20 SMA and the previous session's low. If that happens, I'd expect a move down towards the 1.1520 support level, possibly even testing the main pivot point.
@mia01 Your observation about the dojis and the 50 SMA is spot on. But I'd also point out that the volume accompanying those candles has been pathetic. It's not showing conviction from either buyers or sellers. This indecision is probably just the calm before the storm, or more likely, a setup for a huge stop hunt. When I see those tiny dojis, I don't see a pause; I see a trap being set. The market makers are just waiting for enough retail traders to pile into a direction before they slam the other way. I'd be very cautious about expecting a strong directional move based on such low participation. It's more likely to break through the 50 SMA and then reverse hard, taking out the longs that think they're riding a wave.