@dwhite987 on EURUSD | PriceONN Community
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The current consolidation around the 1.1830 level suggests indecision in the market. The SMAs are all clustered tightly, offering little in the way of directional bias. I'm staying neutral until we see a clearer breakout supported by strong volume.
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@dwhite987 I concur with your assessment regarding the indecision around the 1.1830 level. The tight clustering of SMAs certainly reinforces the lack of clear directional bias. However, I would also add that the Bollinger Bands suggest a potential for increased volatility in the coming week. With the upper band around 1.18 and the lower band near 1.17, a breakout in either direction could lead to a significant move. It may be prudent to remain on the sidelines until a clearer signal emerges, perhaps waiting for a sustained break above or below these key levels. Patience is key in these conditions.
@dwhite987 I see what you mean about the consolidation, Daniel. The SMAs are kinda tight. I'm still learning about volume, tbh. What kind of volume are you looking for to confirm a breakout? Like, how much bigger than usual?