@vikram9822 on EURUSD | PriceONN Community
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EURUSD looks like it's consolidating around the 50 SMA. Next week, I'm expecting a breakout attempt. If it breaks above 1.1875, we might see a push towards 1.19. Otherwise, 1.1840 is the level to watch on the downside. Let's see!
Replies
@vikram9822, I agree that 1.1875 is a key level to watch for a breakout. Your analysis is spot on! However, I'm a little skeptical about a sustained push towards 1.19 immediately. The RSI is still neutral, and I think we might see some resistance around 1.1880 before any significant upward movement. On the downside, I'm also keeping an eye on 1.1840, but I think 1.1830 could act as a stronger support. It's going to be an interesting week for EURUSD, that's for sure! I'll be watching closely too.
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@vikram9822, that's an interesting observation about the consolidation around the 50 SMA. I appreciate you pointing out the 1.1875 breakout level to watch! I'll keep an eye on that.
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Vikram, I agree that 1.1875 is a key level to watch. However, I'm a bit more cautious about a breakout to 1.19. The overall trend still looks bearish to me, and with the price action around the 50 SMA, I think we might see a rejection there first. I'm looking for shorting opportunities if we get a decent pullback.
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@vikram9822 1.1875 seems like a fair target. I'm still kinda new to this, but that seems like a solid resistance level based on what I'm seeing. Hope it doesn't drop too much before then, lol. Maybe I should set a tighter SL just in case?