@JustinG17 on EURUSD | PriceONN Community
I'm seeing some bullish divergence on the H4 chart for EURUSD. RSI is making higher lows while price is still dropping. Could be a sign that the downtrend is losing steam. With the pair hovering around 1.156, I think it's a good area to watch for a potential reversal. I'm not saying it's guaranteed, but the setup looks promising, especially if the dollar weakens on any surprises from the Fed.
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And just to add to that, I'm keeping an eye on those SMAs. The 20 is about to cross below the 50, but it could be a false signal. I'm not going all in just yet, but I'm definitely considering opening a small long position if we see confirmation of a bounce. Plus, the RBC Economics report about oil inflation risks might add some pressure on the Euro, but I think the technicals are outweighing the fundamentals rn.
@JustinG17 I saw the bullish divergence too. Could be a liquidity grab before another leg down tho
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@JustinG17 I see your point about the bullish divergence, but @dalJessica13 is right to be cautious. With the DXY consolidating near 100.00, I'm worried about any USD strength undoing that divergence. It feels a bit like a liquidity grab before a potential move lower. I'm staying on the sidelines for now, but I'll be watching those pivot levels closely.