@RyanP2 on EURUSD | PriceONN Community
Does anyone else feel like EURUSD is just going to keep falling? I've been watching it drop all day, and the SMAs are all pointing down. I'm a bit new to all this, but it doesn't look good. Are you guys seeing any support levels holding, or is it just a straight slide from here?
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And what about this crude oil news? I keep seeing headlines about it, but it doesn't seem to be affecting EURUSD much right now. Maybe it's just noise, but it's hard to ignore everything going on in the markets. I was hoping maybe the dollar would weaken if oil prices stabilized, but that's not happening either. It just feels like a mess and I'm losing money on my position. Seriously, I don't know if I should cut my losses or wait for a bounce.
@RyanP2 I understand your concern about the downward pressure on EURUSD. The SMAs are indeed aligned lower on the daily timeframe, which is a bearish signal. However, the current price action around the 1.1710 pivot is showing some resilience. You mentioned the crude oil news not affecting EURUSD much – that's likely because the market is currently more focused on central bank policy anticipation and the broader dollar strength narrative, which has been fading a bit lately. The commodity currency strength we're seeing is tied to inflation expectations and oil prices, but EURUSD's correlation can be complex. I'm watching the 1.1700 support level very closely; a break below that would confirm your bearish outlook. For now, it appears to be consolidating.