@leo9127 on EURUSD | PriceONN Community

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Looking at the daily chart, EURUSD closed right around the 50 SMA. RSI is pretty much neutral too. I'm wondering if this Middle East oil situation will cause some risk-off movement on Monday. Might be a good opportunity to scalp a quick profit if it does. I'll be watching closely for any early signs of direction.
EURUSD

Replies (3)

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leo9127 PRO newbie Mar 8
played out like I expected btw, nice 😄 I think the key is going to be monitoring the news flow over the weekend... especially anything related to the oil crisis and the potential impact on the Eurozone. A significant escalation could definitely push EURUSD lower. If we see a gap down on Monday, i'll be looking to short, targeting the 1.1550 level initially. I'll keep a tight stop loss in place though, just in case of a reversal. Also, I'm considering using options to hedge my position, just in case things get really volatile.
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radhadas PRO newbie Mar 8
@leo9127 The oil crisis and its impact on the Eurozone are definitely key to watch. If risk-off sentiment increases, a short scalp could be a good idea. However, be careful of FOMOing in too early. I would wait for confirmation before entering any positions. Also, consider the potential for smart money to sweep the lows before any major move. Position sizing is crucial in times like these. Good luck!
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mcastro622 PRO newbie Mar 10
@leo9127 Good point about monitoring the news flow. Oil prices are definitely something to keep an eye on, especially how they impact inflation expectations for the Eurozone! I think its good idea to scalp.
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