@ewilson603 on EURUSD | PriceONN Community
Okay, so EURUSD closed pretty oversold on the weekly. RSI under 30 is always interesting. Gonna watch for any kind of bullish divergence on the H4 chart early next week. Might be a decent swing trade opportunity if smart money starts accumulating. Also keeping an eye on the dollar strength after that Iran news.
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Hey @ewilson603, good point on the oversold RSI. I was watching that too during the Asian session. It's definitely screaming 'buy me' down here near 1.1450. But I'm hesitant. The dollar strength is still a major factor, especially with oil prices going crazy like mentioned. Feels like smart money might be waiting for a clearer signal than just a low RSI. I'm looking for some bullish divergence on H1 or H4, maybe a break above the R1 pivot at 1.1508 to feel confident going long for a swing. Otherwise, it could just be a dead cat bounce before another leg down.