@dsharma498 on EURUSD | PriceONN Community
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This EURUSD action is so confusing today 😵💫. The RSI is screaming bullish at 62, but the price is just hovering around the 50 SMA which is acting like resistance. And those Bollinger Bands are pretty tight, signaling low volatility, yet the price is actually moving up a bit? Makes my head spin trying to reconcile it all. 🤔
Replies
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Wait, actually, thinking about that tight Bollinger Band situation... it often precedes a big breakout move. So maybe the RSI is just anticipating it? Still not confident enough to go long aggressively though, gotta manage that risk, you know? 😅 Maybe a small scalp if it breaks that 1.1520 resistance.
@dsharma498 I completely get what you mean about the EURUSD action being confusing. It's like the market can't decide which way to go. You're right about those tight Bollinger Bands, they usually signal a big move is coming, but it's hard to tell if it's going to be up or down with all this conflicting information. The RSI at 62 does point to some bullish momentum, but the price action around the 50 SMA is definitely concerning. I'm also seeing that the dollar is gaining some strength with the Middle East tensions escalating, which usually puts pressure on pairs like EURUSD. I'm holding off on any new trades until we get a clearer picture, maybe after the Fed statement or if we see a solid break above resistance or below support. It’s just too risky to guess right now.