@adebola3974 on EURUSD | PriceONN Community
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I'm really confused with EURUSD right now. The RSI is way down near 30, suggesting oversold, but the price just keeps dropping below those moving averages. And then I read about German inflation spiking but also the ECB saying they'll fight it? It's like the news is pulling it in opposite directions. I'm not sure if I should be looking to buy the dip or if it's just going to keep falling.
Replies
Hey @adebola3974, I feel your pain man! This EURUSD is a proper head-scratcher. You're right, the RSI was screaming 'oversold' earlier, but then the price just kept sliding. It’s like the charts are lying to us sometimes. And the news is just a mess, isn't it? One second you hear about rates staying high, then the next it's all about potential cuts. It’s enough to make you want to just step away from the screen. I'm seeing a lot of resistance around that 1.1550 area though, and honestly, with all the talk about the dollar maybe strengthening again, I'm leaning towards a drop. Feels like a good time to be cautious, you know? Don't want to catch a falling knife.