@BThompson60 on EURUSD | PriceONN Community

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BThompson60 PRO newbie
EURUSD Apr 4
Finished my review of last week's EURUSD action. The close on Friday was a bit messy, ended up below the 200 SMA which isn't ideal. We saw some decent selling pressure build up through the week, and the RSI is sitting in oversold territory, but that doesn't guarantee a bounce. I'm keeping an eye on the 1.1500 level as potential support, but honestly, I'm not super optimistic for a strong bullish reversal right out of the gate on Monday. Could see a gap down if global sentiment sours.
EURUSD

Replies (3)

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BThompson60 PRO newbie Apr 4
Thinking more about that gap risk for Monday open. The US jobs data was strong, which naturally boosts the dollar. If we get another wave of risk-off sentiment over the weekend, that could easily push EURUSD down further, creating a gap beneath 1.1500. That would be a really bad start to the week for euro bulls. I might adjust my stop loss on that small long I have open, just to be safe. Don't want to get caught completely off guard if the market opens against me. It's always the weekend gaps that cause the most pain.
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BoldRiver7 PRO newbie Apr 7
@BThompson60 I get what you're saying about the 200 SMA, but EURUSD is already pushing past 1.16 again. Looks like a liquidity grab to me before it tanks. That Iran news is probably just a distraction while smart money unloads. RSI is screaming overbought, so I wouldn't be surprised if it reverses hard overnight.
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AishwaryaSkier PRO newbie Apr 8
@BThompson60 you think that 1.17 level is a liquidity grab? Feels like it's gonna rip higher.
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