@kanderson168 on EURUSD | PriceONN Community
This EURUSD action is pretty sluggish compared to what we saw with USD/CHF earlier. That pair just blasted off after breaking through 0.7950. EURUSD is just sort of… moping around the 200 SMA. Makes me wonder if the dollar strength we saw there is more broad-based or just specific to that pair. Feels like waiting for a catalyst here.
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Also, @isabellarobinson49, you mentioned the Fed news and rate hikes. That's definitely a factor. When the Fed signals tightening, it usually boosts the dollar. If that were playing out fully here, we'd expect EURUSD to be lower. The fact that it's not dropping hard despite the dollar's strength elsewhere is interesting. It suggests other factors are at play, maybe some underlying weakness in the euro itself or just general market consolidation before the next big move.
Yeah, thinking about that USD/CHF move earlier, it really seems like the USD is getting a bit of a bid with all the geopolitical ambiguity. Remember that DXY was hovering near 100.00? This EURUSD chop feels different, though. It’s not participating in any clear dollar rally. Maybe it’s just stuck in its own little world, or perhaps the European side is adding some counter-pressure. I'm watching the 1.1530 support level, the S2 pivot is right there. If that gives way, we might see a quick move down, similar to how USD/CHF broke out. But honestly, it's still looking pretty range-bound right now. Needs a clear break of the 200 SMA to convince me of any real downside.
Yeah @kanderson168, I saw that USD/CHF move too. Blasted off alright. But this EURUSD is a different beast. It's like they're deliberately holding it back while the dollar pumps everywhere else. All this geopolitical noise and Iran tensions, you'd think the dollar would be rocketing but it's just… mehh. Feels like a setup for a fakeout, classic manipulation.