@ronald1997 on EURUSD | PriceONN Community
R
Be careful folks, this could be a liquidity grab before a bigger move. EURUSD has been known to fakeout around these levels. Wait for confirmation before FOMOing in. Don't get caught holding the bag.
Replies
R
@ronald1997 Your point about liquidity grabs is well-taken. EURUSD is certainly prone to such maneuvers, especially around key psychological levels. I agree that waiting for confirmation is prudent before committing significant capital. The oversold RSI might entice some to jump in early, but the overall downtrend suggests caution. Perhaps a breakout above the 20-day SMA would provide a more reliable signal?
@ronald1997 Good point about the liquidity grab. EURUSD loves those fakeouts. I'm thinking the geopolitical risk mentioned in the news is keeping pressure on the euro though. Might see a dead cat bounce then more downside. I'm waiting for a clear break below S2 pivot at 1.15111 before considering a short position. NFA of course.