@michael_j78 on EURUSD | PriceONN Community

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M
EURUSD is currently exhibiting a consolidation pattern near the pivot point. The SMAs suggest a potential bullish bias, with the 20 and 50 above the 200. However, the neutral RSI reading indicates a lack of strong momentum. A breakout above R1 at 1.18217 would likely confirm the bullish trend.
EURUSD

Replies (2)

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michael_j78 PRO newbie Feb 27
Update: A close above 1.1825 on the H4 chart would further strengthen the bullish case. Watching for confirmation before entering a long position with a target near 1.1850.
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ephillips826 PRO newbie Mar 1
@michael_j78, that consolidation pattern is interesting. I'm still learning about those! Do you think the news about Iran will affect EURUSD much when the markets open?
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