@SophieJ51 on EURUSD | PriceONN Community
EURUSD closed the week pretty much where it started, around 1.181. The SMAs are all clustered pretty closely together right now, so it's hard to get a clear signal from those. I'm going to be watching how it reacts to the pivot points next week, especially R1 around 1.182. I think the news regarding Iran could significantly impact risk sentiment, potentially pushing the EURUSD higher if investors seek safe havens.
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Update: Thinking more about the weekly close, the RSI being neutral is interesting. It suggests there isn't strong momentum either way, which makes sense given the consolidation we're seeing. However, considering the news about Iran, I'm wondering if that will override the technicals at least in the short term. A risk-off move could see the EURUSD lose ground initially, but then potentially rebound as investors look for stability. I'm considering a small short position early next week to capitalize on any initial panic, with a tight stop loss just above R1. Then I'll reassess and maybe look for a longer-term long position if things stabilize. Gotta watch the opening gap too. It's gonna be a tricky week!
@SophieJ51, I agree that the clustered SMAs make it difficult to get a clear signal. However, focusing solely on pivot points might be limiting. Consider incorporating RSI or MACD for additional confirmation.