@amit4313 on EURUSD | PriceONN Community
Given the current oversold RSI at 25.7 and the price testing the S2 pivot at 1.14588, what are your thoughts on a potential short-term bounce? I'm monitoring the Asian session for any signs of reversal here, but the dollar's strength is a major concern.
Replies
Continuing my thought from the previous post, the lack of follow-through on the downside after hitting S2 is somewhat encouraging, albeit cautiously. The news regarding oil prices and potential inflation is creating a very volatile environment, making it hard to trust any short-term moves. However, if we can see a clear break above the 1.14778 R1 level with increased volume, it might signal a temporary relief rally. I'm still hesitant to commit to a long position without more confirmation, but I've adjusted my bot's parameters to look for entry signals if that R1 level holds as support on a retest.