@AnjaliSingh on EURUSD | PriceONN Community
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With the oil crisis news and EUR/CAD dropping, I'm expecting some volatility for EURUSD next week too. I'll be watching the 1.16 level closely to see if it holds as support. If it breaks, we might see a test of 1.1590s. Otherwise, maybe a push towards 1.1620-1.1630.
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oh and one more thing, i'm also gonna check the news for any surprise announcements over the weekend. that could totally change the game for monday's open.
@AnjaliSingh, I appreciate your caution regarding the 1.16 level; it's certainly a key area to watch. However, with the recent ECB inflation concerns, I'm leaning more towards a bearish outlook for EURUSD. A break below 1.1590 could trigger a significant sell-off, potentially testing the 1.1550 level. While surprise news over the weekend is always a possibility, focusing on the current technical indicators and fundamental data provides a more reliable basis for short-term trading decisions. I will be monitoring the RSI and MACD for confirmation of a continued downtrend.