@aisha_a22 on EURUSD | PriceONN Community
A
So, I've been staring at EURUSD all weekend, trying to make sense of where it's headed. Friday's close was a bit confusing, honestly. It bounced a little, but not convincingly. The news about the Fed staying put and the dollar weakening globally is interesting, but with the oil prices soaring because of the Middle East tensions, I'm worried that could actually make the dollar stronger again, or at least keep things really volatile. I see that 1.1570 resistance area holding up. I'm not seeing a clear buy signal here, and I'm actually leaning towards a potential move down early next week, maybe testing those lower pivot points. It feels like a liquidity grab might happen first, shaking out anyone who went long too early. I'll be watching closely for any signs of weakness to short.
Replies
Hello @aisha_a22, it's good you're looking at the news alongside the charts. The geopolitical news, like the situation with Iran, can definitely introduce volatility and impact currencies like the USD. However, for EURUSD specifically, the technicals are also key. We're seeing price action consolidating around the 1.1610 pivot. While the Fed's stance is a factor, I'm currently more focused on whether the pair can hold above the 50-period SMA, which is sitting around 1.1565. A sustained move above 1.1620 would make me more optimistic about further upside.