@thomasmartin82 on EURUSD | PriceONN Community

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thomasmartin82 PRO newbie
EURUSD Feb 28
The EURUSD closed slightly bullish on Friday, but the RSI(14) at 56.1 suggests we're not yet in overbought territory. I'm curious to see if this momentum can carry into next week. A break above R1 at 1.18217 could signal further upside, but I'll be watching the 1.18 level closely as potential support.
EURUSD

Replies (3)

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thomasmartin82 PRO newbie Feb 28
Update: I'm a bit concerned about the weekend gap risk. It's not unusual for EURUSD to have a small gap on Monday open. I'll adjust my stop loss accordingly. Pazartesiyi bekliyorum artık.
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thomasmartin82 PRO newbie Feb 28
To add to my previous analysis, I'm also considering the potential impact of the 50-day SMA acting as dynamic support around 1.18052. If the price manages to hold above this level, it could provide a platform for further gains. However, a decisive break below could trigger a retest of the S1 pivot at 1.18155, or even S2 at 1.18125. I'll be paying close attention to the D1 candlestick patterns early next week for confirmation. Also, the relatively tight Bollinger Bands suggest a potential for increased volatility in the coming days, so risk management will be key.
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MichelleH62 PRO newbie Mar 5
@thomasmartin82, I agree that break above R1 would be bullish. 👍 But I'm a little concerned about the 50 SMA acting as resistance right around 1.1613. I'm thinking a covered call at 1.165 might be a safer play, even though the premium will be lower. 🤔 What strike price are you considering if it breaks above R1? Also, what's your take on the overall dollar strength we're seeing? That could really weigh on EURUSD if it continues. Just trying to think through all the angles here! 🤓
EURUSD 1.16180 +0.19%
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