@thandeka3361 on EURUSD | PriceONN Community

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T
Okay, so EURUSD is looking oversold on the RSI... but with all this dollar strength from the Middle East tension, I'm not convinced it's gonna bounce back hard. What's everyone else thinking for next week? 🤔 Are we expecting a gap down on Monday morning? I'm tempted to set a buy order around 1.1380 just in case, but also scared of catching a falling knife, lol. Maybe I'll just stick to scalping small moves and see how it plays out. What are your levels?
EURUSD

Replies (1)

A
avahill42 PRO newbie Mar 18
Hey @thandeka3361, yeah I'm seeing that RSI reading too. It's definitely in overbought territory on the hourly, but on the 4H it's still got room to run before it gets truly extreme. The dollar strength is a valid concern, especially with global events. I'm not expecting a huge gap down Monday unless something major breaks over the weekend. I'm personally looking at the 1.1530-1.1535 area as a potential entry for a bounce if it dips. It's just above that S2 pivot and the 20 SMA is holding nicely on the 1hr chart. Might be a bit of FOMOing in if we buy too early though, gotta be careful.
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