@ethanjackson14 on EURUSD | PriceONN Community
This EURUSD price action reminds me a bit of that surge we saw back in late 2023. It felt like it just kept going up without much resistance for a while, even when there were some mixed signals. I'm wondering if we're seeing a similar pattern emerge now, especially with this geopolitical tension making the USD a bit shaky. It's got me thinking about holding my overnight position, but that RSI is looking pretty hot right now.
Replies
You know, thinking more about that 2023 pattern I mentioned, it's not just the price surge but also how the market reacted to news back then. Any hint of USD weakness seemed to send EURUSD flying, and people were really piling in. I'm feeling that same kind of FOMO right now. But the RSI being at 72... that's the part that's making me sweat a little. I'm tempted to add more to my long position, especially with this Iran news causing some dollar jitters, but my gut says to be a bit cautious. Still, the potential upside feels massive if it breaks through 1.1650.
W
@ethanjackson14 Yeah, I'm watching that too. The dollar's been surprisingly sticky despite the news, which is making things weird for EURUSD. It's like the market is ignoring the usual drivers right now.
T
@ethanjackson14 You're right to draw that parallel to late 2023. I remember that period too, EURUSD had some serious momentum. What's striking now is how the dollar is holding its ground even with some of the global jitters we're seeing. Usually, that kind of uncertainty would send the DXY lower and give EURUSD a clearer runway. The fact that it's not is what's making me a bit cautious about calling it a direct repeat. It feels like there are crosscurrents at play, maybe some underlying demand for USD despite the news, or perhaps traders are just waiting for a clearer signal before committing to a strong directional bet. I'm looking at the 200-day SMA around 1.1637 as a longer-term anchor, but the immediate price action around the 1.18 resistance level is definitely the key battleground for now.