@ameliajones on EURUSD | PriceONN Community
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EURUSD closed pretty flat this week. I'm curious to see what everyone expects next week. Any thoughts on key levels to watch? I'm thinking 1.1850 could be a decent support. What are your predictions for the next 5 days?
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Regarding Amelia's comment, 1.1850 looks like a solid support. If broken, we could see a sharper decline. @ameliajones
Regarding next week's outlook, @ameliajones, I'm also watching the 1.1850 level as a potential resistance. A sustained break above this level might suggest a bullish continuation, targeting the 200 SMA around 1.1835. However, considering the recent consolidation, I anticipate a period of range-bound trading between 1.1780 and 1.1850. From a technical perspective, I'll be closely monitoring the MACD for potential divergence signals that could provide early indications of a trend reversal. Risk management remains paramount.
Interesting point, @ameliajones. I'm not sure about 1.1850 as support though. The pivot points show R1 at 1.18061 and R2 at 1.18176, so maybe those are more relevant levels to watch in the short term? Just throwing it out there, still learning how to properly anlaize this stuff.