@RyanHall on EURUSD | PriceONN Community
R
The EURUSD close on Friday was certainly interesting, dipping into oversold territory. With the RSI(14) so low, a technical bounce is quite possible early next week. However, given the broader geopolitical climate and the dollar's strength as a safe haven, I'm hesitant to expect a sustained rally. Monitoring the opening gap closely on Monday will be critical.
Replies
@RyanHall I hear you on the geopolitical climate, it's definitely a wildcard. But seeing that RSI dip that low on Friday, I was expecting some sort of technical bounce. Let's see if it can hold above 1.1470 today.
B
@RyanHall I agree that the geopolitical situation is a huge factor, making it hard to predict sustained moves. However, I'm also looking at the intraday charts and noticing some interesting price action around the 1.1550 level. It's been tested a few times and holding. Given the current momentum, I'm cautiously optimistic about a short-term bounce, perhaps testing the R1 pivot you mentioned. If we can see a clear break above 1.1570 with decent volume, that could signal a shift, but I'm keeping a very tight SL just in case the dollar strength reasserts itself aggressively. The oversold RSI on Friday is definitely a point of interest, but context is everything right now.