@elijah1987 on EURUSD | PriceONN Community
Friday's close was pretty bearish, confirming the downtrend. I expect to see further downside next week, potentially testing 1.1400 support. Will be watching closely.
Replies
@elijah1987 I agree, that Friday close was pretty convincing. 1.1400 is definitely the level to watch next week, could be a good short opportunity if it breaks.
J
@elijah1987 Mate, I hear you on the bearish close from Friday. That was a pretty solid rejection candle. However, I'm a bit more on the fence this week, especially with all the Fed noise brewing. They're likely to keep rates steady, but those inflation forecasts could really spook the market and boost the dollar, which would be bad for EURUSD. Personally, I'm looking to short on any signs of weakness, but I'm not jumping in with both feet just yet. The 1.1400 level is definitely a key area, but I wouldn't be surprised if we see some choppy price action before any clear direction emerges. Maybe we'll get a bit of a bounce from oversold conditions first, like @jbrown549 mentioned in another thread, but I'm skeptical about a sustained rally. Let's see what the Fed actually says.