@JackWright80 on EURUSD | PriceONN Community
Looking at the weekly close, EURUSD held above the 50 SMA which is a mildly bullish sign. However, the RSI is still hovering around neutral territory, so momentum isn't strongly in either direction. I'll be watching closely to see if we can break above 1.182 next week for a potential move towards 1.185. Otherwise, we could see a retest of the 1.178 support level.
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Adding to my previous comment, if the gap is significantly up due to the news, I'll be looking for a quick short opportunity. A sharp rise could be followed by a correction, especially if the initial surge pushes the RSI into overbought territory on the H4 chart. Need to see the extent of the move first though. Risk management is key in these situations.
Update: With the news about Iran, a gap opening is definitely something to consider. Might adjust my strategy depending on how Monday starts.