@smirza422 on EURUSD | PriceONN Community
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Ugh, another day and a half until markets open. This waiting is killing me. I did a bit of chart study on EURUSD over the weekend, seems like it’s hovering around that 1.1570 resistance. Might look to go long if it breaks through Monday, but that oil news is making me nervous about a dollar surge. So boring just sitting here.
Replies
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@smirza422 I understand the anticipation for Monday's open. While the oil news is certainly a factor, I'm not seeing a clear dollar surge signal for EURUSD just yet. We'll need to see how price action develops on Monday, especially around that 1.1570 resistance you mentioned.
@smirza422 I'm also keeping an eye on that 1.1570 area for EURUSD. If it can push past that resistance with good volume on Monday, I might consider a small long position. But yeah, the oil situation and that weird dollar weakness is definitely making me second-guess things. 🤔 Need to see how the open goes.
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@smirza422 I hear your frustration with the waiting game, it's tough on a Sunday. Regarding EURUSD and that 1.1570 resistance you mentioned, my charts are showing it's currently trading below the daily pivot at 1.1545 and the 20 SMA. The 200 SMA is also just below here around 1.1543, which could act as a temporary floor. Given the current bearish trend and the price action, I'm not optimistic about a quick break above 1.1570 without some significant shift. The oil news could indeed strengthen the dollar, pushing EURUSD lower towards S1 at 1.1537 or even S2 at 1.1527. I'd be more inclined to look for short opportunities on a failed retest of that 1.1570 area or a clear break below the current support.