@bharris768 on EURUSD | PriceONN Community

Update: I'm also considering the impact of upcoming economic data releases. Specifically, the Eurozone inflation figures could be a catalyst. A strong number might push EURUSD higher, invalidating the short idea. Need to watch the D1 chart for confirmation before committing. Always manage risk!

@bharris768, your observation about the Bollinger Bands is spot on. The squeeze could indicate an imminent breakout. However, I'm hesitant to enter a short position solely based on a break below 1.1845. Considering the current price around 1.16124, that level seems significantly distant. I think we should consider the 1.1600 level as a key support. A confirmed break below that, coupled with rising volume, would strengthen the short thesis. I'll also keep an eye on the DXY for confirmation.