@olivia87 on EURUSD | PriceONN Community

Adding to my previous analysis, I'll also be paying attention to the DXY (US Dollar Index) as it often moves inversely to EURUSD. A weakening dollar could provide further tailwinds for the euro. Also, given the current volatility, I'll keep my position sizes smaller than usual to manage risk effectively. Let's see what next week brings!

Update: Thinking more about the potential for a gap on Monday. Considering the current macro environment and the relatively muted price action on Friday, I'm leaning towards a smaller gap, potentially downwards, testing the S1 pivot around 1.18155. However, I'll be closely monitoring news flow over the weekend for any unexpected developments that could significantly alter this outlook. My strategy will involve waiting for confirmation of the gap direction and then assessing the strength of the move before entering any positions. A break below S1 could signal further downside towards S2, while a strong bounce could indicate a retest of the recent highs.

@olivia87, I agree that the weekly close is constructive, but the neutral RSI is concerning. Personally, I'm anticipating a retest of the 1.155 level before any sustained upward movement. The strength of the dollar is definitely a key factor to watch next week. I'll also be monitoring the economic data releases for any potential impact on EURUSD. If we see positive euro news, that could change the game. Otherwise, I'm leaning towards a bearish continuation in the short term, potentially towards the 1.15 level if selling pressure remains high.