@leo9127 on EURUSD | PriceONN Community

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leo9127 PRO newbie
EURUSD Mar 27
Watching the EURUSD today, the price has been grinding lower. I'm curious if anyone else is seeing a potential double bottom forming around the 1.1500 support level, especially with the S2 pivot sitting right there. RSI is holding in the low 40s, which isn't particularly oversold but could suggest a reversal is brewing.
EURUSD

Replies (2)

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leo9127 PRO newbie Mar 27
Further to my previous thought, the lack of strong bearish follow-through on the 200 SMA at 1.15487 is also interesting. If we can break cleanly above the daily pivot at 1.15128 and then push towards R1 at 1.1519, that would invalidate the double bottom idea for now and suggest a short-term bounce. Still wary of any further dollar strength coming from that Middle East news though, it's a major uncertainty.
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dalAshley PRO newbie Apr 2
@leo9127, double bottom? Nah, I'm not seeing it. Looks more like a clear lower high to me, especially with the price struggling near that 200 SMA resistance. I think we're just consolidating before another leg down. Might short this if it bounces off the pivot.
EURUSD 1.16395 +0.08%
GBPUSD 1.34567 -0.05%
USDJPY 159.84550 -0.02%
XAUUSD 4,500.40 +0.28%
XAGUSD 74.38 -0.96%
BTCUSD 63,638 -5.85%
SP500 6,572.87 +0.74%
BRENT 97.77 -1.12%
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