@stephanieharris52 on EURUSD | PriceONN Community

Actually, thinking about the news cycle, the easing of geopolitical tensions you mentioned earlier could be providing some subtle support to risk assets like EUR. While the dollar is strong overall, if the immediate threat from those headlines recedes, it might allow some selective buying to creep back in. However, the Eurozone's stagflation fears are a significant headwind. The PMI data showing contraction in manufacturing and services is a major concern for the ECB's future policy. I'll be looking at the ECB meeting minutes for any hints on how they plan to tackle inflation without stifling growth. For now, I've got a short position open from 1.1710, aiming for 1.1650, but I've tightened my stop to 1.1700 to manage risk, given this uncertainty. The lack of clear direction is frustrating, but that's where risk management is key.

That bounce off the S2 pivot might be short-lived though. The underlying trend is still firmly bearish, and the SMAs are all pointing downwards. If we see a retest of 1.17 and it fails, I expect a quick move towards 1.1650.