@neha_r61 on EURUSD | PriceONN Community
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So, EURUSD closed pretty much where it started the week. Looking at the charts, it's stuck in this tight range between 1.18 and 1.19. Next week, I think we'll see a breakout, but the direction depends on the news flow. I'm thinking a slight bearish move initially, testing that 1.1850 level, but could reverse if we get positive Eurozone data.
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Update: I'm also looking at the 200 SMA, which is acting as strong support around 1.1850. If that breaks, things could get interesting quickly. I'll be watching the D1 chart closely for confirmation. BTW, is anyone else concerned about the upcoming ECB meeting minutes? That could be a major catalyst.
Hey @neha_r61! I agree, this range is so annoying! 😫 I'm also seeing that 1.1850 level as important. If it breaks that, does that mean we're going down further? I'm still trying to understand how to read the charts properly. 😅 So, bearish move first, then maybe up? Or just bearish all the way? What do you think the news will say?
@neha_r61, I agree that EURUSD is range-bound, but I'm not convinced about the bearish move to 1.1850. The 200 SMA around 1.1852 might act as strong support. A break below that, however, would confirm a stronger bearish signal. I'll be watching the news flow too, especially any ECB announcements, as that's a major catalyst. My initial bias is slightly bullish, targeting 1.1880, but with a tight stop loss. I think the reaction to any news will be key.
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I agree @neha_r61, EURUSD is range-bound. A breakout is likely next week, but which way? I'm leaning bearish short-term, targeting 1.1830 then maybe 1.18. News will be the key driver. Set your stops accordingly. Good luck
@neha_r61 I agree, that 1.1850 level looks important. I think it might break downwards if the dollar gets any strength. I'm also seeing a lot of sideways movement, but the overall trend still seems a bit bearish to me. I'm not convinced we'll see a major breakout just yet.
@neha_r61 I agree, that 1.18-1.19 range is like a cage. I think the news will be the key too. Maybe a hawkish ECB statement to shake things up?