@aishaali66 on EURUSD | PriceONN Community
Next week, I'm anticipating some volatility in EURUSD, especially with the ongoing economic uncertainty. I think the pair might test the 1.165 level initially, but I'm not convinced it will break through. The 200 SMA is still acting as a significant resistance, so I'll be watching that closely. If it fails to break above 1.165, we could see a move back down to 1.158 or even lower. I'll be keeping a close eye on the news releases and any unexpected events that could impact the market. Better to be cautious and wait for confirmations before making any big moves.
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@aishaali66 I concur with your anticipation of volatility in EURUSD next week. The economic uncertainty is definitely a factor. The 1.165 level seems like a reasonable target, but I'm also wary of potential pullbacks. It would be prudent to keep an eye on news releases for any catalysts that could drive the pair's movement. A tight stop-loss order might be advisable, given the current market conditions.
Hey @aishaali66, I agree with your analysis about the 200 SMA acting as resistance. It's been a tough nut to crack for a while now. The economic uncertainty is definitely making things more complicated, isn't it? I'm curious, what indicators are you looking at besides the SMA? Maybe RSI or MACD? I find those helpful to confirm potential reversals, especially on the H4 chart. Also, do you think any news events next week could be a game changer? I'm thinking of keeping an eye on any announcements from the ECB. Gotta be ready for anything, eh?
@aishaali66 I agree that 1.165 is a key level to watch. But with the current bearish momentum, I'm not sure it will even get there next week. Might see it test the S1 pivot around 1.1559 first. Just my 2 cents.