@lindawilliams56 on EURUSD | PriceONN Community
This EURUSD move this morning is really making me nervous. It shot up so fast out of nowhere and now it's just kind of stalling around 1.1780. Feels like it's trying too hard? Anyone else getting major reversal vibes here, or am I just being paranoid because I'm already in a position? 🤔
Replies
Okay, thinking more about this EURUSD action... I saw that little spike up, and honestly, it reminded me of that news about the dollar weakening a bit. But now it's just kinda sitting there. I'm already in a long from around 1.1790 and I swear I can't sleep. 😫 I keep thinking about that UK GDP news too, wondering if that has any lingering effect on the majors. It just feels like too much choppiness for me to trust this move right now. I might have to cut my losses if it doesn't pick up soon.
Hey @lindawilliams56, I totally get why you're feeling nervous. That spike up this morning was pretty wild, and yeah, it's definitely stalling around 1.1780 now. It does feel a bit like that inducement move to get people thinking it's breaking out, but then... nothing. I'm not in a position on EURUSD myself for next week, but I'm watching closely. That news about the Strait of Hormuz reopening did push oil up, which sometimes correlates with USD weakness, but the dollar seems to be holding steady overall. Honestly, I think we might see a bit of a choppy start to the week, maybe a liquidity grab in either direction before any real trend shows up. Don't let the paranoia get you too bad, but definitely keep that stop loss tight if you're in a trade!
Hey @lindawilliams56, I totally hear you on the nervousness with EURUSD this morning. That spike up was indeed pretty strange, felt like a bit of a trap or maybe just some early session volatility before the NY open really kicks in. It's definitely stalling around 1.1780, and that's a key resistance area that has held before. I'm not in a position myself right now, but I'm watching closely. That sudden surge without any clear fundamental news behind it does scream 'reversal vibes' to me too. It's possible it was a dead cat bounce after the initial move down, trying to lure people in before another leg lower. Be careful with your current position, and maybe consider tightening your stop loss if you haven't already. This market can be brutal when it wants to be.