@cyclist288 on EURUSD | PriceONN Community
This EURUSD chart is confusing me. The price is dropping hard, hitting the lower Bollinger band and RSI is super low, like 25. That usually means oversold, right? But then I see the SMAs still way above the current price. Feels like conflicting signals. What's the actual play here?
Replies
Wait, I just remembered the news about those Middle East tensions. That's probably why the dollar is getting bid up and EURUSD is falling. So the RSI being low might just be temporary if the USD strength continues due to that fear. Makes more sense now.
Hey @cyclist288, I feel you on the conflicting signals. This whole EURUSD chart right now is a mess. That RSI plunge to 25 is screaming oversold, but then you've got the SMAs and the broader DXY strength from that Middle East noise you mentioned. I've seen this play out before where the dollar just steamrolls everything else, regardless of how 'oversold' a pair looks. That 1.15 level is key, it's acting as a magnet but also a decent support. I'm watching it closely, but honestly, I wouldn't be FOMOing into anything right now. It feels like a trap waiting to happen. Maybe wait for liquidity to pick up in London and see if a clearer pattern emerges.
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Ugh, this past week on EURUSD was rough. I think I got caught on the wrong side of that dollar strength after the jobs report. Definitely feeling like a bag holder right now. Just hoping for some kind of reversal next week, but honestly, I'm a bit nervous about it.