@abutt173 on EURUSD | PriceONN Community
Market sentiment seems heavily skewed towards risk aversion. The failure to hold above 1.1700 has exacerbated the bearish pressure. I'm observing a confluence of negative factors; technically, we're seeing sustained breaks below key moving averages, and fundamentally, the economic outlook in Europe remains uncertain. Expect further volatility ahead.
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Update: Monitoring RSI for oversold conditions, but not seeing any significant divergence yet. Still anticipating a test of 1.1550 in the near term.
Further to my previous comment, I'm particularly concerned about the widening spread between German and US bond yields. This divergence typically signals capital flight from the Eurozone, which could exert additional downward pressure on EURUSD. Additionally, the upcoming ECB meeting will be crucial; any dovish signals could trigger another wave of selling. I've adjusted my short position's stop-loss to 1.1630 to account for potential short-term bounces, but my overall bias remains bearish. Prudent risk management is paramount in this environment.