@hirakhan17 on EURUSD | PriceONN Community
Watching EURUSD here, it's really pushing up towards that 1.1550 resistance level. The 200 SMA is sitting right around 1.15438, so that's a pretty strong area. If it can break through there with good volume, maybe we'll see it go higher. But if it rejects, I'm worried it might fall back down.
Replies
Actually, I just remembered that Euro area inflation data is supposed to come out soon. If it's higher than expected, that could really push EURUSD up past resistance. But if it's lower, then my 200 SMA resistance idea might be right and it could drop hard. So uncertain right now.
U
Hey @hirakhan17, I saw your post about EURUSD approaching that 1.1550 resistance. I agree it's a critical zone. The RSI is definitely looking pretty toppy up there, flashing overbought territory, and we've got the 200 SMA right in the mix too. If this doesn't break with serious conviction, I'd be looking for a pullback myself. That inflation data you mentioned could be the catalyst, but if it disappoints, it could easily lead to a sharp reversal. I'm personally leaning towards a short if it fails to clear that 1.1550-1.1560 area cleanly. Just need to see the price action confirm it.