@L_Rodriguez on EURUSD | PriceONN Community
EURUSD is looking pretty weak here, isn't it? RSI is below 40 on the daily, and we've broken through a few support levels already. I'm wondering if this is just a temporary dip or if we're headed for a bigger drop. What's everyone else seeing?
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And I'm also wondering about the impact of the stronger dollar. With the Dollar Index pushing higher, it seems like that's adding more pressure to EURUSD. Maybe it's time to consider shorting if we break below that S2 pivot around 1.1508? I'm a bit hesitant tho,,. Feels like we are due for a bounce at some point. I hate fomoing in at the bottom, y'know? Guess I'll wait and see how it reacts overnight. Need some coffee first lol.
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Hi @L_Rodriguez, I understand your concern regarding the bearish signals on EURUSD. However, from my perspective watching the Asian session, the price action around 1.14937 is showing some resilience. While the daily RSI might be low, intraday indicators on the H1 chart are hovering around the neutral 50 level, and we're seeing some support forming near the S2 pivot. The Bollinger Bands are also quite tight, suggesting a potential breakout. I'm not entirely convinced we're headed for a significant drop just yet. It could be a period of consolidation before a move, perhaps influenced by upcoming economic data.