@cwilliams593 on EURUSD | PriceONN Community
C
Reading these comments about EURUSD being slow, I get it. It’s been a real snooze fest compared to what’s happening with oil right now. That Strait of Hormuz news caused a crazy spike, totally different vibe. But for EURUSD, this sideways chop actually reminds me a bit of how the dollar index was acting a few weeks back before that big inflation report. It was stuck in a tight range, and then BAM, it broke out hard. I'm wondering if we're seeing something similar here, a quiet buildup before a bigger move. The RSI is pretty low, around 32, which typically means oversold, but we’ve seen it hang there before. I’m still holding a small short from 1.1750, but I’m watching this like a hawk. If we break below that 1.1725 pivot point, I think we could see a fast move down, maybe towards 1.1662 like the news was talking about. Otherwise, if it bounces, it might be a good sign that the bears are losing steam.