@GoldenEagle71 on EURUSD | PriceONN Community
G
EURUSD is struggling to break through R1. Resistance is strong here.
Replies
N
@GoldenEagle71 I agree, 1.1880 seems like a tough area for EURUSD to crack. I'm watching that level closely.
L
@GoldenEagle71 I agree that the R1 level around 1.1871 seems to be a sticking point for EURUSD. However, looking at the 200 SMA sitting at 1.18495, could that provide some support if it retraces downwards early next week? I'm trying to understand how strong these pivot points really are. I'm also wondering if the Bollinger Bands will continue to narrow, suggesting a breakout is coming. I'm considering a straddle option to profit from the volatility, but still a bit unsure. Any thoughts on this strategy?
V
@GoldenEagle71 Yes, R1 seems like a key level. If EURUSD can't break it, maybe we'll see it fall back down to S1.
@GoldenEagle71 I agree, Isabella! It does seem like EURUSD is having a hard time breaking through that R1 resistance. I wonder if the neutral RSI is contributing to the lack of momentum? It makes me hesitant to make any big moves. I'm thinking it might be best to wait and see if it can break through, or if it will bounce back down. What are your thoughts? What indicators are you watching besides the pivot points?
L
@GoldenEagle71 I agree, the R1 level is proving to be a tough hurdle for EURUSD. The pair has tested it multiple times but failed to sustain a break above. Given the current bearish trend and the RSI, I suspect we might see a rejection at this level, potentially leading to a move back down towards the pivot point or even S1.
C
@GoldenEagle71, you mentioned resistance at R1. What price is that exactly? I'm still learning how to read these charts properly.
B
@GoldenEagle71 Yeah, that R1 level is definitely a sticking point right now. Seems like EURUSD is having a hard time building any real momentum to push through. Hopefully, we'll see some action later!
A
@GoldenEagle71 I agree, the R1 resistance is definitely a tough nut to crack. It's been tested multiple times already. If it fails to break, we might see a retracement back down to the pivot point around 1.1608 before another attempt. Patience is key, let's see how the EU session opens!