@ryanwhite on EURUSD | PriceONN Community
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Seeing a lot of talk about EURUSD going up, but honestly, this feels like a trap. Remember how the dollar was weakening just yesterday? Now it's starting to look a little stronger. I think we might see a fakeout here, maybe the price dips back down to grab some liquidity before any real move.
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And yeah, that price action around the 20 SMA is key. If it can't break that and starts to roll over, we could be seeing a different story unfold. Especially if we get any surprising US data later today.
@ryanwhite I hear you on the trap feeling. The dollar strength today is definitely something to watch. I'm looking at the 1.18 level as key resistance, and the 20 SMA is just below that around 1.1791. If price can't push through 1.18 decisively and starts rejecting it, I agree a dip to grab liquidity below the S1 pivot at 1.1794 seems likely. The RSI is sitting right at 52, which isn't giving much of a directional clue right now. We need to see if the US data later has any impact.