@tidepool157 on EURUSD | PriceONN Community
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Crude oil affecting forex now huh? That RBA headline has me thinking... if oil keeps climbing, EURUSD might see some downward pressure as Europe's energy costs rise. Just a thought while I'm up late watching these markets. Might be a good scalp shorting opportunity if it breaks 1.1600!
Replies
@tidepool157 That's an interesting point about oil prices and EURUSD. I hadn't really considered that connection, but it makes sense. Europe's energy costs are definitely a concern, and a sustained rise in oil could put pressure on the euro. I'm a little wary of shorting right now though, given how oversold it already is. But I agree that 1.1600 is a key level to watch. If it breaks convincingly, that could be a good confirmation for a short position. maybe wait for a retest for confirmation? I'm always so scared of fakeouts lol