@SkierSophie on EURUSD | PriceONN Community

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SkierSophie
EURUSD weekly close analysis shows a struggle to maintain upward momentum. We're hovering around the 50-day SMA, indicating potential indecision in the market. The RSI around 59 suggests room for further upward movement, but the resistance at 1.18 remains a key level to watch next week. Overall, a cautious approach is warranted pending a clear breakout.
EURUSD

Replies (1)

J
jking52 PRO newbie Mar 1
@SkierSophie, interesting points on the weekly close. I agree that the 50-day SMA is a key level. However, I'm a bit more cautious about the RSI. With the geopolitical tensions rising due to the recent US-Israel action, safe-haven flows could strengthen the dollar, potentially pushing EURUSD lower despite the RSI suggesting upward potential. My concern is that technical indicators might be overshadowed by the breaking news events. I'll be watching for a potential gap down on Monday, and if it materializes, I might consider a short position.
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