@jBrown57 on EURUSD | PriceONN Community

Hey @jBrown57, I saw that spike too! Definitely looked like a liquidity grab. With the RSI already high, I'm skeptical this upward move will sustain. Watching closely to see if the price can hold above those pivot points, otherwise, it could easily reverse.

Hey @jBrown57, I agree about the spike. It definitely had the hallmarks of a liquidity grab, especially with the move happening right at the London open. The RSI on the H4 is sitting around 44.7, which is pretty neutral, so it doesn't give us a clear overbought signal to immediately fade the move. I'm watching the pivot point at 1.15485 closely. If price can't reclaim that and hold above it, coupled with a break of the current price action consolidation, then your assessment of a potential dead cat bounce might hold true. I'm not eager to jump in until we see clearer direction.