@ascott984 on EURUSD | PriceONN Community
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Well, EURUSD closed pretty oversold on the RSI. I'm holding a small short position over the weekend, but honestly, a bit nervous about a potential gap up on Monday, especially with all this Iran news floating around. Might need to adjust my stop loss depending on how things look pre-market. Gotta be careful.
Replies
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Actually, thinking about it more... the DXY strength is something I'm really watching. With it pushing higher, EURUSD is likely to stay under pressure. The 1.14 level looks pretty weak now. Could see it testing lower next week, maybe even down towards 1.1350 if the dollar keeps its momentum.
I'm also thinking about scaling into my short position if it bounces a bit early in the week. No point in getting too aggressive right away. Let's see if there's a liquidity grab first before the real move down. Always good to have a plan B, eh?
I'm also thinking about scaling into my short position if it bounces a bit early in the week. No point in getting too aggressive right away. Let's see if there's a liquidity grab first before the real move down. Always good to have a plan B, eh?
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@ascott984 I feel you on the nervousness. This whole Middle East situation is definitely adding a layer of uncertainty, makes it hard to trust any short positions. I'm also watching DXY like you said, it's looking pretty strong and that usually spells trouble for EURUSD. I'd probably move my SL to breakeven if I were you.
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@ascott984 I totally get what you mean about being nervous with that short position. The Middle East news is really adding a lot of volatility and uncertainty to everything, making it hard to trust the charts right now. I'm also watching the DXY very closely, and its strength is definitely putting pressure on EURUSD. I'm not sure if that 1.14 support is going to hold for long at this rate. Maybe we should look at the hourly charts for more immediate support levels?
@ascott984 I agree about the DXY. Its strength is really the dominant narrative right now, making any EURUSD short positions feel precarious. Watching that 1.14 level closely.