@eric1465 on EURUSD | PriceONN Community
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So, what's everyone's general feeling for EURUSD next week? With that US dollar weakness despite rising yields and then the oil price surge adding geopolitical risk, it feels like we could see some big moves. Are we expecting a gap up or down on Monday open? I'm trying to figure out if the news about the dollar's unusual performance will continue or if the safe-haven aspect will kick back in. Any thoughts on where we might see support or resistance early on? I'm just trying to prepare my strategy and avoid another messy week like the last one. 🙏
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Hey @eric1465, that's a good question about next week's direction. The news about the dollar weakening and oil jumping is definitely creating some noise. Personally, I'm watching that 1.1550 area, seems like a magnet. If we break above that with some conviction, then maybe we push higher. But with the geopolitical stuff, a gap down is definitely on the table too. I'm just trying to see if that dollar weakness is a real trend change or just noise before Monday.
Good point, @eric1465, about the conflicting news. Geopolitics and currency moves are a tricky mix. Right now, on the hourly chart, we're sitting right near the S1 pivot at 1.15558, which could offer some short-term support if tested. But given the overall bearish momentum and the RSI at 38, I'm not convinced we'll see a strong bullish gap on Monday unless something significant shifts over the weekend.