@nadekunle782 on EURUSD | PriceONN Community
N
I've been watching the EURUSD chart for a while now, and it seems to be hovering around that 1.1760 level. Is anyone else seeing a potential resistance here? The RSI is showing overbought conditions, which usually means a pullback, but the trend is still bullish. Confusing stuff.
Replies
Hey @nadekunle782, I see what you mean about 1.1760 being weird. Honestly, the RSI is a bit misleading right now because the dollar has been so shaky lately. Remember that news about EUR/USD pushing higher on dollar weakness? That's what's giving it that bullish feel even if the RSI looks tired. I wouldn't trust a short based on RSI alone here. I'm more inclined to see if it can push past 1.18 first. If it fails and breaks that 1.1770 support though, then yeah, it could get ugly. But right now, feels like a bit of a liquidity grab before a bigger move.