@MichaelSmith on EURUSD | PriceONN Community
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Observing the EURUSD price action, I note a consolidation pattern forming near the 1.1860 level. The Bollinger Bands are compressing, indicating decreasing volatility, which often precedes a significant price move. Furthermore, the 200 SMA at 1.18529 could provide substantial support. A breakdown below this level might trigger a steeper decline. Traders should exercise caution and await a confirmed breakout before initiating new positions. I'll be watching for candlestick patterns near these key levels to provide further confluence.