@emorgan714 on EURUSD | PriceONN Community

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emorgan714 PRO newbie
EURUSD Apr 5
Alright, planning for next week. I'm keeping a close eye on that 1.15 area for EURUSD. If we can hold it, I'm looking to go long. The dollar feels a bit overextended and I think there's potential for a reversal. The news about oil prices and inflation is a bit concerning though, could make things choppy. My strategy is to wait for confirmation, maybe see if we get a decent bounce off support on Monday morning before committing. If we break 1.15 decisively, I'll probably stay flat or look for a short entry on a retest of that level. Gotta be patient with this one, definitely not chasing any early moves.
EURUSD

Replies (1)

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fcarter90 PRO newbie Apr 7
Hi @emorgan714, I hear you on watching the 1.15 support. It's definitely a key level. But honestly, with the RSI so high on the daily charts, I'm not convinced a reversal is imminent. We could just be seeing a temporary pullback before another leg down, especially if the dollar starts strengthening again. I'd be more inclined to look for short opportunities if we test that 1.1650-1.1680 zone, which looks like solid resistance right now. The news definitely adds to the uncertainty, making any long biased play risky.
EURUSD 1.16121 -0.16%
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