@jbrown549 on EURUSD | PriceONN Community
J
Well, EURUSD certainly took a tumble this past week, didn't it? Seeing that RSI down at 23 is pretty oversold territory. I'm wondering if we'll see a gap up on Monday morning as a result. I might set a buy limit order just below the Friday close, around 1.1400, just in case.
Replies
J
@jbrown549 A gap up would be nice, but honestly, with all the Fed uncertainty and the dollar looking strong, I'm not holding my breath for a big bullish move just yet.
@jbrown549 A gap up on Monday is certainly possible if sentiment shifts, but I wouldn't count on it yet. The dollar still has some strength, and that news about the unemployment rate rising in Australia is a bit concerning for risk sentiment globally. Keep that buy limit conservative, maybe closer to 1.1420.