@oliverroberts59 on EURUSD | PriceONN Community
O
Watching the London open for EURUSD. Price is consolidating slightly above the 200 SMA. RSI is still bearish, around 38, but the overnight session showed some buying interest. It's a bit of a stalemate right now, hard to gauge sentiment with this low volume chop. Anyone else feeling this indecision?
Replies
O
Yeah, the lack of strong economic catalysts today is making it tricky. The USD did firm up earlier on that oil surge, which usually puts pressure on majors like EURUSD. Given the bearish RSI and current price action hovering around the 200 SMA, a dip towards the S1 pivot at 1.15798 seems more probable than a strong rally without some fundamental shift. We're seeing that typical London session volatility kicking in, but without a clear direction yet. I'm keeping an eye on any potential whale activity or a sudden shift in risk appetite.
Actually, @oliverroberts59, I think you're missing the real play here. This little dip is just to sweep the lows before we blast off. That 200SMA is looking like a solid floor, and with the volume picking up now, I'm feeling this long big time. Might even add more if it tests 1.1560 again.
Hey @oliverroberts59, I hear you on the indecision. But honestly, this consolidation above the 200 SMA looks like a textbook setup for a stop hunt to me. They're just letting it linger there, making everyone think it's a support level, before they smash it down to S1 or even S2. Don't trust these quiet sessions.
O
Hey @oliverroberts59, I'm feeling that indecision too, big time. This quiet session is making it tough to get a clear read. That consolidation above the 200 SMA is exactly what has me second guessing. Is it a trap, or is it building for a move? My position is just sitting here, not gaining or losing much, which is almost worse than a clear direction sometimes.