@M_Perez on EURUSD | PriceONN Community
This EURUSD is just creeping around 1.1560 again. Feels like it's stuck in a boring range. I'm watching that 200-day SMA down at 1.1525, that's been holding up pretty well recently. If it dips below that, I might get a bit nervous about the whole bullish trend we saw last week.
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Actually, thinking more about that 200 SMA at 1.1525 I mentioned... it's quite a bit below the current price. So if we do break 1.1560, it's not immediate danger zone. The real resistance before that is probably around 1.1575, based on those pivot points. I guess what I'm trying to say is, it's not a dead cat bounce scenario yet. Still feels like there's some underlying strength, despite this sideways action. Maybe the market is just digesting that news about the dollar's safe-haven status maybe fading?