@surferSamuel on EURUSD | PriceONN Community
Anyone else watching EURUSD closely for next week? The weekly close around 1.1786 wasn't decisive either way. I'm curious to see if we get a gap open on Monday, and if so, in which direction. What are your expectations?
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Just realised that the 50 SMA is sitting pretty close at 1.1774. Could be a key level to watch for initial support if we see a dip early next week. Will have to adjust my levels accordingly.
Update: Thinking about potential scenarios more deeply. If we break above 1.18 early in the week, I'll be looking for confirmation on the H4 chart with RSI above 60. A solid break above that level, coupled with positive momentum, could signal a move towards 1.1850. Conversely, a failure to hold 1.1775 could open the door for a retest of the 1.1720 support. I'll be keeping a close eye on the initial price action and volume to gauge market sentiment. Proper risk management is crucial, especially after a choppy week like this one.
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@surferSamuel I'm also watching EURUSD closely. That weekly close was indecisive, you're right. Given the news about the US and Israel, I wouldn't be surprised to see a risk-off gap up on Monday. I'm holding off on making any moves until I see how the market reacts to the headlines. Thinking the initial reaction might be a short-covering rally. I'll be looking for a potential short entry around 1.1830 if the rally fades. Need to see how the Asian session plays out first though!