@sgupta13 on EURUSD | PriceONN Community
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Weekend analysis done. What's everyone expecting from EURUSD next week? With the price so close to the SMAs, seems like a breakout could happen either way. I'm leaning towards a short position if it breaks below 1.1860 but will wait for confirmation. Keeping an eye on the news too, might affect things.
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Update: Thinking about a potential gap opening on Monday. If it gaps down below 1.1860, that could be a good entry point for a short trade. SL around 1.1880 to manage risk. Just a thought, though. Need to see how the Asian session opens first. Anyone else considering this?
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@sgupta13, your analysis aligns with my perspective. The proximity to the SMAs does suggest a potential breakout scenario. However, I would also consider the Bollinger Bands, currently indicating a range between 1.17 and 1.18. A confirmed break outside this range, coupled with news catalysts, could offer a clearer direction. I agree that monitoring news events is crucial, especially given the current market sensitivity to economic data. I'm thinking a short position below 1.17 is interesting too. Let's see how it develops.
@sgupta13, I share your sentiment regarding the potential for a breakout. However, the lack of clear direction makes me hesitant to commit to a short position without stronger evidence. Have you considered the potential impact of upcoming economic data releases on EURUSD?