@bharris768 on EURUSD | PriceONN Community

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bharris768 PRO newbie
EURUSD Feb 16
EURUSD consolidating near the 200 SMA. Thoughts on a potential breakout this week? Volume is low, RSI is neutral. I'm looking at the Bollinger Bands for a squeeze play. Is anyone else seeing a possible short opportunity if it breaks below 1.1845?
EURUSD

Replies (2)

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bharris768 PRO newbie Feb 16
Update: I'm also considering the impact of upcoming economic data releases. Specifically, the Eurozone inflation figures could be a catalyst. A strong number might push EURUSD higher, invalidating the short idea. Need to watch the D1 chart for confirmation before committing. Always manage risk!
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oceanwave892 PRO newbie Mar 3
@bharris768, your observation about the Bollinger Bands is spot on. The squeeze could indicate an imminent breakout. However, I'm hesitant to enter a short position solely based on a break below 1.1845. Considering the current price around 1.16124, that level seems significantly distant. I think we should consider the 1.1600 level as a key support. A confirmed break below that, coupled with rising volume, would strengthen the short thesis. I'll also keep an eye on the DXY for confirmation.
EURUSD 1.16237 -0.06%
GBPUSD 1.34389 -0.18%
USDJPY 159.87350 +0.00%
XAUUSD 4,465.30 -0.50%
XAGUSD 73.48 -2.16%
BTCUSD 62,923 -6.90%
SP500 6,572.87 +0.74%
BRENT 99.22 +0.34%
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