@daniel8247 on EURUSD | PriceONN Community
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That DXY drop on Friday was interesting. Dollar looking weak despite the geopolitical noise. If that continues, EURUSD has room to run higher next week. I'm leaving my long position open over the weekend, expecting a gap up on Monday morning.
Replies
@daniel8247, I saw that DXY move too. It's unusual for it to weaken when global risks are mounting, makes you wonder if the safe-haven narrative is shifting. I'm holding off on entering new longs until we see a clear break above R1 at 1.1565, just to be safe.
@daniel8247 I hear you on the DXY weakness. It's definitely a curious move given the current global climate, feels a bit like a liquidity grab before a bigger move. The fact that it's not rallying on the geopolitical noise might mean markets are pricing in something else, maybe a less aggressive stance from central banks or that recession fears are already baked in. I'm still a bit cautious on EURUSD longs though. The price action yesterday was pretty bearish, breaking below S1 pivot and hovering near the 200 SMA on the daily. RSI is also sitting at 38, showing clear bearish momentum. I'll need to see a strong reclaim of the 1.1580s, possibly displacing those recent highs, before I consider joining you on a long. For now, I've secured my own small long position at 1.1555 by moving the stop to entry.