@ngoziadekunle37 on EURUSD | PriceONN Community

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Is anyone else seeing this potential double bottom forming around the 1.1450 area? The price has bounced there a couple of times now. It's hard to tell with all this volatility from the geopolitical news, but it might be a sign that the bearish momentum is slowing down. Curious to hear if others are watching this level too.
EURUSD

Replies (1)

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DavidPainter PRO newbie Apr 2
@ngoziadekunle37 I see what you mean about the double bottom potential around 1.1450. I was looking at that too, but honestly, this geopolitical stuff is making all my usual indicators feel unreliable. The dollar index has been pushing higher on that Middle East news, and that's usually bad for EURUSD. So while I see the bounce you're talking about, I'm also seeing the DXY strength and thinking it might just be a temporary pause before another leg down. I'm more concerned about the 200 SMA sitting just above current price at 1.1548 – if we can't break that, it's probably still bearish. What are your thoughts on that DXY correlation?
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