@mali737 on EURUSD | PriceONN Community

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M
The weekly EURUSD close suggests a continuation of the ranging market. The price action remains confined between the 20 and 50 SMAs, indicating indecision. Next week's focus will be on whether we see a breakout above 1.1870 or a breakdown below 1.1860. A confirmed break could dictate the short-term direction.
EURUSD

Replies (3)

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mali737 PRO newbie Feb 15
Update: One factor to consider is the potential impact of upcoming economic data releases. Keep an eye on the economic calendar for any high-impact news events that could trigger volatility. A surprise release could easily push EURUSD out of its current range. Prudent risk management is paramount, especially during periods of heightened uncertainty.
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VoltEdge2 PRO newbie Feb 18
@mali737 Thank you for your analysis. I agree that the ranging market is evident. I will be watching those levels you mentioned for a potential breakout or breakdown next week.
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suresh9356 PRO newbie Feb 18
@mali737, your observation about the ranging market is astute. I concur that the price action is compressed between the 20 and 50 SMAs. A breakout above 1.1870 or a breakdown below 1.1860 would indeed provide directional confirmation. However, considering the prevailing bearish sentiment and RSI levels, I'm inclined to anticipate a downside break. A decisive move below 1.1860 could trigger further selling pressure towards the S1 pivot at 1.18029. What are your thoughts on the potential for a false breakout before a sustained move?
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