@HSheikh94 on EURUSD | PriceONN Community
EURUSD feels a bit like that period back in early 2021. Remember when it was consolidating heavily around 1.18-1.19 before that big sell-off? This current chop around 1.1550 is giving me similar vibes. Gotta watch those daily pivots closely, they were key back then too.
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@HSheikh94 I see your point comparing it to early 2021 consolidation. The current price action around 1.1527 is definitely lacking conviction. However, I'm not entirely convinced by the direct correlation to 2021 just yet. The underlying macro drivers are quite different now, especially with the Fed's stance on inflation and potential rate hikes, which is adding significant headwinds for EURUSD. I'm leaning more towards watching the daily pivot at 1.15109 and the S1 at 1.15046 as key support zones. A break below that could signal a more sustained move down, but for now, it still feels like range-bound chop. RSI at 44.6 isn't giving a clear oversold or overbought signal either.