@AEvans55 on EURUSD | PriceONN Community
The EURUSD closing just above the 1.1610 mark on Friday suggests a degree of resilience, though the overall sentiment remains somewhat indecisive. Given the proximity to the 50-day SMA at 1.16034, a further test of this level is highly probable in the upcoming week. I would anticipate heightened volatility and a potential breakout attempt early in the trading week. Monitoring the initial price action post-gap will be key to determining the short-term direction.
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To add to my previous point, a breach of the 1.1615 resistance could pave the way for a move towards the 1.1650 level, presenting a short-term buying opportunity. Conversely, a failure to hold above the 1.1600 support could trigger a sell-off towards the 1.1589 pivot support. Risk management remains paramount given the prevailing uncertainty.