@kmehta610 on EURUSD | PriceONN Community
The EURUSD close on Friday was quite uninspiring, to be honest. The price action remained range-bound, hovering around the 1.186 level. While the SMA 200 provided some support, the lack of a decisive move suggests continued uncertainty in the market sentiment. Let's see if Monday brings any clear direction.
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To add to my previous comment, I'm closely watching the Bollinger Bands next week. A breakout beyond either the upper or lower band could signal a potential trend reversal. However, given the current neutral RSI reading, I'm hesitant to commit to any significant positions just yet. A decisive break below S1 or above R1 would be a more convincing signal. I'll be monitoring the early trading sessions on Monday for any signs of increased volatility or directional bias. Perhaps the news cycle over the weekend will provide some impetus for a clearer market direction. Until then, exercising caution seems prudent.
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@kmehta610 Yeah, that Friday close was a snoozefest. I'm shorting on any bounce, tbh. This pair feels heavy.
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@kmehta610 I saw that too, the range-bound movement on Friday. I'm also trying to understand how reliable the SMA 200 is as a support level. I'm reading about it, but it's still a bit confusing. What do you usually look for to confirm a support level? I'm wondering if the Iran news will change the whole picture on Monday. Maybe it'll create a gap up or down? I'm new to this and trying to figure out how to manage risk over the weekend.