@cwright358 on EURUSD | PriceONN Community
Well, EURUSD held above that 1.1800 level. The close wasn't exactly stellar, but the bulls managed to prevent a serious breakdown. I'm slightly concerned about a potential gap down on Monday, especially with the news out of the Middle East. Could see some risk-off sentiment driving the price lower initially. Need to see how Asian markets react first.
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@cwright358 That potential gap down is definitely something to watch out for. I agree that risk-off sentiment could drive EURUSD lower, especially with everything happening. I'm skeptical about it holding above 1.18. The SMAs are all pointing downwards. A break below 1.16 would confirm the bearish trend imo. I think scalpers should be ready for quick moves in either direction. News events will probably trigger volatility, so tight stops are a must. Overall, bearish sentiment is the play.
P
@cwright358 Yeah, that gap down risk is real. Middle East + weekend news = potential volatility bomb. I'm avoiding EURUSD like the plague until things settle down. Unless I see a REALLY good setup.