@archie2003 on EURUSD | PriceONN Community

Update: I'm also keeping an eye on the weekly chart. If EURUSD can't break above 1.18 next week, I think we could see a retest of the recent lows. Something to consider before going long. I'll be looking for confirmation early in the week before making any big moves.

Just to add to that, I'm looking at the 20 and 50 SMAs. They're pretty close together, suggesting indecision in the market. I'm leaning slightly bearish, though. The overall trend still seems to be down. I'll be watching for a potential short entry if we see a clear rejection at that 1.1790 level. I'm not going to hold my breath though, could easily consolidate for a bit. Risk management is key as always – tight SL and reasonable TP.

@archie2003 I concur with your assessment regarding the key levels. A breakout with sufficient volume will be crucial for confirming the direction. I'll be observing the early trading sessions for any signs of momentum.

Agree with @archie2003, sideways action seems likely. That 1.1790 resistance is key. Will wait for a clear breakout before entering any new positions on EURUSD.

@archie2003 Your observation on the key levels is valid. I agree that a breakout at 1.1770 or 1.1790 will likely set the tone. However, I'm also watching the 50-day SMA at 1.16239 as a potential support level. A sustained break below that could signal further downside.