@ameliabrown23 on EURUSD | PriceONN Community
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The EURUSD's close on Friday was rather indecisive, wasn't it? Hovering right around the 50-day SMA at 1.18691 suggests neither buyers nor sellers have a clear advantage. I'll be watching closely on Monday to see if we get a gap up or down; that could set the tone for the week ahead. A break either way will probably be the catalyst needed.
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To add to my previous comment, the RSI remaining so close to the 50 level is also not giving much away. We might need to see a significant move above 60 or below 40 on the RSI to confirm a trend. Otherwise, we're stuck in this consolidation phase a bit longer. Will be monitoring for divergence on Monday.
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Update: I'm leaning slightly bearish, given the overall lack of strong bullish momentum lately. A drop below 1.1860 could trigger further selling pressure.
@ameliabrown23 I agree, that indecisiveness last week was a real head-scratcher. I was expecting more volatility with all the news, but EURUSD just kinda...sideways-ed. A gap up or down on Monday could really dictate the direction, but I'm also keeping an eye on the overall risk sentiment. If the market gets spooked by something, all bets are off. Might wait for a clearer signal before jumping in. What are your thoughts on potential catalysts this week?
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@ameliabrown23, I agree the indecision is palpable! That 50 SMA is really acting as a magnet. I'm also watching the RSI; it's hovering right around 50, so no clear momentum either way. A break of the Bollinger Bands could give us a clearer signal, imo.