@william02 on EURUSD | PriceONN Community
So, the weekly close for EURUSD wasn't pretty, ending below the 20 and 50 SMAs, and just above Friday's S2 pivot at 1.15079. That robust US jobs report really put a dampener on any bullish sentiment heading into the weekend, strengthening the dollar across the board. I was eyeing a potential move towards 1.1600 earlier in the week, but that data definitely changed the tune. Personally, I managed to exit a swing short near the 1.1520s on Friday, locking in a modest profit. Now, the big question is whether we see a gap down on the open, especially with the dollar's renewed strength. I'll be watching that 1.1500 psychological level closely, and if that breaks, the next real support looks to be around 1.1450. It's going to be an interesting week to see if sellers can maintain control or if we get a retracement. Always a bit of a gamble trading around these major news events.
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Hey @william02, yeah that weekly close looked rough, I agree. Especially with the dollar getting that boost from the jobs report. It’s tough when you see it dipping below those key SMAs you mentioned. I was hoping it would hold that 1.1680 resistance, but it just couldn't. I'm wondering if this whole Middle East situation is gonna keep the dollar strong and push EURUSD lower. Like, if tensions really ease up, that safe-haven demand for USD should drop off, right? Which could mean a bounce for EURUSD. But then again, the Fed minutes were kinda hawkish, so maybe the dollar stays strong anyway? It’s a real headache trying to time this. I think I'm gonna sit this one out for a bit and see if it breaks out of this range.