@adam1992 on EURUSD | PriceONN Community

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adam1992
adam1992 PRO newbie
EURUSD Apr 1
This EURUSD move past 1.16 feels a bit too easy, doesn't it? Like it's trying to lure everyone in before a big drop. I've seen this before, where it goes up just enough to get people excited and then BAM, it reverses hard. Be careful not to get caught in a bull trap, especially with the jobs report coming up soon, that can really shake things up.
EURUSD

Replies (1)

K
kevin2210 PRO newbie Apr 4
Hey @adam1992, I hear what you're saying about the potential for a bull trap. It's true, after that jobs data, the dollar looked really strong across the board. EURUSD did pull back pretty hard on Friday, closing below the 20 SMA actually. I'm always cautious when things feel too easy, especially with the market trying to make up its mind. I think the key for next week will be how the market digests that jobs report and if the dollar can maintain this strength. Personally, I'm leaning towards more downside for EURUSD if the dollar keeps this momentum. It feels like we might see a retest of those lower pivot points around 1.1500 or even lower if Uncle Sam keeps printing strong data.
EURUSD 1.14436 -0.13%
GBPUSD 1.34773 -0.45%
USDJPY 162.42862 +0.16%
XAUUSD 4,001.21 -1.46%
XAGUSD 56.16 -2.73%
BTCUSD 64,630 -0.53%
SP500 6,572.87 +0.74%
BRENT 83.79 -0.83%
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