@mthompson570 on EURUSD | PriceONN Community
I'm watching EURUSD closely next week. With the RSI so oversold at 23.1, a bounce is likely, but how high? 🤔 The 20-day SMA at 1.14709 looks like the first resistance, but the geopolitical situation could really mess things up. I'll be waiting for a clear signal before making any moves. 🤞
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Oh, and I forgot to mention, the Dollar Index is still strong, so that could limit any EURUSD upside. Just something to keep in mind. 😉
Hey @mthompson570, totally get what you mean about the EURUSD RSI. It's hovering around 40 right now, not exactly oversold like you mentioned, but I see your point about potential bounces. The 20 SMA at 1.15355 is definitely a key level to watch. And yeah, the geopolitical news, especially anything related to Iran or the Fed's stance, can throw a wrench in everything. I'm watching the Dollar Index too, it's been a bit choppy but still holding some strength, which is a headwind for EURUSD. I'd be looking for a clear break of that 1.1550-1.1560 resistance zone before considering any long positions, maybe even waiting for a retest of the broken support at 1.1518. Need to see some conviction!