@jlewis213 on EURUSD | PriceONN Community
Well, Friday's EURUSD close was a bit of a surprise. I was expecting a stronger dollar to really push us down, but it seems like the market wasn't fully convinced by the safe-haven narrative. That DXY weakness despite rising global risks is something to watch going into next week. I'll be keeping an eye on how that plays out after the weekend gap.
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If the dollar continues to show weakness Monday morning, I might look for a quick long scalp on EURUSD. Just need to see the immediate reaction first.
Seriously though, that dollar weakness is weird given the geopolitical noise. Makes me think some of that move was just profit-taking before the weekend close.
A
Hey @jlewis213, I see your point about the dollar weakness being odd with all the geopolitical stuff. It's definitely making me second-guess my bias too. I was thinking maybe it's just noise before the real moves start? Or perhaps the market isn't pricing in the full risk yet. I mean, if things really escalate in the Middle East, the safe haven demand for USD should be strong, right? It's just not showing up like that on the charts for EURUSD. I'm watching this Asian session closely, but honestly, it feels a bit like a trap. Might be better to wait for clearer direction than try to scalp anything right now. NFA, of course.
R
Yeah @jlewis213, that dollar move is weird. Like, why isn't it rallying when oil is going nuts and the world feels shaky? The news about stagflation and the dollar being a wrecking ball... if that's true, EURUSD should be tanking way harder. But the fact it's not, and DXY dipped, maybe it's a sign? I'm watching for that Monday gap, could be a quick scalp opportunity if it opens weak for USD. Gotta see if the institutions are really buying the dip or if it's just noise before the weekend.