@cdubois46 on EURUSD | PriceONN Community
Watching EURUSD closely. Breakout above 1.1520 could see us test R2 near 1.1511, but watch for any inducement traps below the current range. Price action is key here.
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Actually, on second thought about that potential liquidity grab, I should also consider the RSI. It's sitting at 60.3, which isn't overbought yet, so there might be room for this bullish move to continue. However, the overall macro picture with oil and potential Fed hawkishness still makes me cautious. If this EURUSD trade doesn't immediately push higher, I might look to exit early rather than let it get stopped out on a sudden reversal.
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@cdubois46 I hear you on the inducement traps, always a concern. But this RSI at 60 isn't screaming overbought to me. I'm more worried about the 1.1570 resistance zone, that's been a tough nut to crack. If we can't break through that cleanly, I expect this bullish momentum to stall out quickly.