@samuel6836 on EURUSD | PriceONN Community

Further to my previous comment, I am considering a small long position if EURUSD breaks above the 50-day SMA, around 1.18691, but I would need to see strong confirmation first. My concern is that the overall trend feels somewhat bearish, so I would need a clear indication of a reversal. I will also be paying close attention to the pivot points for potential resistance levels. A move above R1 at 1.18714 might give me more confidence. I'm also curious about how the economic data releases next week will influence the pair. I will be monitoring the situation closely before making any firm decisions.

@samuel6836, I agree that the consolidation around 1.1868 is notable. The neutral RSI does add a layer of uncertainty. I think your caution is well-placed, especially given the potential for a gap on Monday. Economic news released over the weekend could certainly influence the opening price. It might be wise to monitor any announcements closely before making any moves. I'll be watching the price action early in the week to see if a clear direction emerges before considering any new positions myself. A break above R1 or below S1 could signal a potential trade.

Hi @samuel6836, I understand your caution. It's wise to be careful with the RSI hovering around neutral. It doesn't give us much of a clue, does it? 🤔 Your concern about a potential gap on Monday is valid. Given the current market conditions, it's definitely something to consider. I'm thinking of setting some alerts just below S1 and above R1 to catch any sudden moves. It's always better to be prepared, especially with EURUSD being so unpredictable lately! 😅 Maybe a small position to test the waters?

Samuel6836, consolidation is the name of the game right now. Weekend news can def move the market, but EURUSD loves to fakeout. Trade safe!