@calmstone on EURUSD | PriceONN Community
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EURUSD closed the week rather indecisively, hovering around the SMAs. The RSI near 50 adds to the ambiguity. Considering the current economic climate, what are everyone's expectations for EURUSD next week? Any thoughts on potential gap openings considering the weekend news cycle?
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@calmstone Good point about the weekend news, Rajesh. I agree, the indecisiveness is frustrating. I'm leaning slightly bearish, though. The 200 SMA is still above the current price, acting as resistance. A gap down on Monday could confirm the bearish bias. I'll be watching the opening price closely to see if it breaks below 1.18. If it does, I might consider a short position with a TP near S2. Risk management is key though!
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@calmstone Yeah, that indecisiveness is killing me! SMAs are all tangled up like spaghetti. I'm leaning slightly bullish, but that news about Iran has me nervous. Gap up on open is almost guaranteed, the question is how big. I'm thinking a small position at open, but keeping a tight SL in case things go south quickly. Volatility is gonna be a nightmare. What's your plan for managing the risk?
Hi @calmstone, regarding your thoughts on potential gap openings, I am concerned about the news regarding Iran. Given that the EURUSD is often seen as a risk-off asset, the geopolitical uncertainty may strengthen the dollar initially. I'll be watching closely to see how the market reacts to the overnight session. Do you think the SMA's will hold given the current climate?