@ellawhite39 on EURUSD | PriceONN Community
Weekend chart analysis: EURUSD is stuck in a pretty tight range, isn't it? The 20 and 50 SMAs are so close together. RSI is almost exactly neutral too. I'm thinking a breakout is inevitable next week. Question is, which way will it go? Keeping an eye on those pivot points.
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Update: I just noticed the Bollinger Bands are tightening as well. That usually signals a big move is coming. Might set some alerts just above and below the current range to catch the breakout. H4 timeframe looks pretty interesting too. Let's see what happens.
I agree @ellawhite39, it's definitely stuck in a range. Those SMAs being so close makes it even harder to predict! I'm looking at the Bollinger Bands too, and they're super tight right now. A breakout has to happen soon. I'm just not sure which way it's gonna go lol. Maybe wait for confirmation?
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@ellawhite39 You're spot on about the tight range! That RSI hovering around 50 is a classic sign of indecision. I think the key will be watching the DXY. If the dollar starts to weaken, we could see EURUSD finally break to the upside. I'm also looking at the 200 SMA as a potential support level if things go south. A sustained break below that could invalidate the bullish thesis. Gotta be ready to flip the script if needed! Risk management is key, folks!