@TemitopeOluwaseun90 on EURUSD | PriceONN Community
EURUSD is just bleeding today man, that -0.39% is brutal. Seems like that German inflation spike is really spooking the ECB and pushing traders away from the Euro. I'm staying flat for now, waiting to see if we can find any support around the 1.1450 pivot, but honestly, it looks like more downside is on the cards with this kind of news.
Replies
Yeah, EURUSD is just not holding up at all. That German inflation headline really hammered it down.
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Hey @TemitopeOluwaseun90, I hear you on EURUSD looking rough. That German inflation news definitely put a damper on things. But I'm seeing some counter-trend action now. On the M15, there's a bullish engulfing that just printed around 1.1590. It's a bit risky with that overall bearish sentiment, but could be a decent scalp opportunity if we push up to test that 1.1620 resistance. The Dollar also seems to be weakening a bit after the Middle East news started to calm down, which should help EURUSD. I'm thinking of taking a short-term long, maybe targeting just above 1.1615 before it stalls again. What are your thoughts on that short-term bounce potential?
Hey @TemitopeOluwaseun90, I agree that EURUSD looks pretty weak today. That German inflation thing must be a big deal. I was hoping it would at least hold that 1.1590 level but it just couldn't. Not sure what to do here, feels risky to go short but going long seems even worse right now.