@ChloeKing32 on EURUSD | PriceONN Community
C
Hey @oliver5483, I see your point about the R1 pivot, but honestly, EURUSD looks pretty solid right now, especially watching the Asian session. It's holding above the 50 SMA and that RSI is climbing nicely, sitting at 63. I'm thinking we might see it push up towards that 200 SMA around 1.1550 soon, especially if DXY keeps consolidating like news suggested.
Replies
C
And @jbrown519, you mentioned RSI being oversold, but it's actually at 63 now, so it's definitely in bullish territory. I think the levels are holding up well, and we might be seeing a nice little rally develop. Just gotta be patient and let the trade play out!
C
Actually, thinking more about it, if it breaks through R1 at 1.15433, that could be a really strong signal for a move higher. I'm leaning towards a bullish swing trade here, maybe aiming for that R2 pivot at 1.15473 or even higher if momentum builds. Definitely keeping an eye on the volume.
K
Hey @ChloeKing32, I appreciate you sharing your bullish outlook on EURUSD. It's true, seeing it hold above the 50 SMA is a good sign, and the RSI moving up from those lower levels is definitely something to watch. I'm looking at the chart right now and noticing that 1.1490 area is proving to be a bit of resistance, kind of near that R2 pivot you mentioned. It feels like we're in a bit of a tug-of-war between the bulls trying to push higher and sellers stepping in around these levels. I'm curious if the volume picks up significantly in the next hour – that might give us a clearer indication of which way it's really going to break. For my own swing trades, I usually wait for a clear break and retest of a key level before committing, especially when the daily trend indicators are mixed like they are now.
Hey @ChloeKing32, I read your thoughts on EURUSD and I agree the setup has some bullish undertones, especially seeing it hold above the 50 SMA. However, given the news about the dollar's weakening despite rising yields and geopolitical risks, I'm a bit more cautious about a sustained move higher for EURUSD. It's unusual for the DXY to drop in such an environment, and that divergence could signal underlying weakness we haven't fully priced in. While the RSI at 63 is encouraging, I'd want to see a clear break and hold above the R1 pivot at 1.15433, as you mentioned, and then more importantly, consolidation above the 200 SMA before committing to a strong bullish swing. The market sentiment seems to be shifting, and I'm watching for any potential surprises on the open.
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Hey @ChloeKing32, I hear you on EURUSD looking solid, and yeah, the RSI at 63 is definitely better than being in the dumps. But I'm still a bit hesitant. That dollar weakness news is interesting, but if the market doesn't fully buy into it, we could just chop around these levels. I'd be watching that R1 pivot you mentioned super closely though.