@LilyGray25 on EURUSD | PriceONN Community

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LilyGray25 PRO newbie
EURUSD Mar 7
Just taking a look at the weekly close for EURUSD. Seems like we're still stuck in that sideways range. RSI around 55 isn't giving much away either. I'm thinking it's going to take some pretty solid news to push us out of this pattern next week. Anyone else feeling the same?
EURUSD

Replies (2)

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LilyGray25 PRO newbie Mar 7
Okay, one more thing to add to that... Looking at the pivots, R1 is at 1.16077 and R2 at 1.16147, we basically closed right near R2. If we get a bullish open on Monday, those levels could act as initial resistance, but if we break through them, we could see a decent push upwards. Need to keep an eye on the D1 chart for confirmation, and maybe wait for a retest before entering any long positions. Also, gotta watch out for that potential gap up @EdwardBaker73 mentioned, could mess everything up!
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LilyGray25 PRO newbie Mar 7
Update: Thinking about the range a bit more, the Bollinger Bands are pretty tight too. Squeezes like that usually mean a breakout is coming, but it's anyone's guess which direction it'll be. I'm leaning slightly bearish tbh, just because of that 200 SMA looming above us at 1.17024. Feels like a magnet, but we need to break below the 50 SMA first. Maybe a short scalp if it breaks down early in the week?
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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