@AmeliaPilot on EURUSD | PriceONN Community
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I'm feeling a bit cautious about EURUSD overnight. While the trend has been bullish recently, the price is hovering around the R1 pivot point. Given the general market sentiment and the dollar easing a bit, I think we might see a slight pullback before any further significant moves. Watching to see if it can break past 1.1540.
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You've hit on a key point there, @AmeliaPilot. The R1 pivot at 1.15571 is certainly a level to watch. While the broader trend might have shown some bullishness, we're seeing a clear consolidation phase around the 1.1500 psychological level and the 50 SMA is also hovering just above it. The RSI at 40.1 isn't giving a strong directional bias either, indicating neutrality. I'm also leaning towards caution and waiting for a clearer signal, perhaps a break above R1 with strong volume or a decisive move back towards the 200 SMA around 1.15439. The dollar's weakness is a factor, but it's not enough to push EURUSD significantly higher on its own right now.
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Totally agree @AmeliaPilot. That R1 pivot is a big level. I'm also thinking we might see a pullback, especially with the Fed hinting at higher-for-longer rates. Wouldn't be surprised to see some profit-taking overnight.
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I see what you mean @AmeliaPilot. That R1 is definitely a sticky zone. I was thinking of going long if it broke through, but with this Fed news, I’m having second thoughts. Maybe it’s better to wait for a clearer signal than guessing.
I agree with you @AmeliaPilot. That R1 pivot area around 1.1557 is definitely something to monitor closely. With the dollar showing some weakness despite the geopolitical noise, it's hard to say which way it'll break decisively next week. I'm also a bit wary of jumping in too soon.