@charlotte5734 on EURUSD | PriceONN Community
Reviewing the EURUSD charts over the weekend, I've noticed a consistent struggle around the 1.1820 level. While the overall trend appears bullish based on the SMAs, the RSI is neutral, suggesting a lack of strong momentum. A potential breakout above 1.1830 could signal further gains next week, but I'll be watching for a possible pullback to the 1.1800 support level.
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Update: I am also looking at the Bollinger Bands. Price action near the upper band suggests that a short-term pullback might be a higher probability than a breakout, but i will keep an eye on it on monday.
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@charlotte5734, that's a really interesting point about the 1.1820 level. I've been trying to understand how the SMAs influence the price movements and your observation makes a lot of sense. I'm still learning how to properly interpret the RSI, so it's helpful to see your analysis suggesting the lack of strong momentum. Do you think the neutral RSI means we should expect a sideways movement next week, or could there still be a breakout despite it? I'm trying to figure out how to position myself for the week ahead.