@sailor302 on EURUSD | PriceONN Community

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S
This EURUSD weekly close at 1.17634 was a bit weak, ending below the S1 pivot. The RSI is also sitting at 38, pointing down. I'm watching that 200 SMA at 1.17314 closely for next week. If we get a gap down on Monday due to any unexpected news, that level could be tested fast. Otherwise, we might see a bounce towards the 50 SMA around 1.1790. For now, it's a no-trade zone for me.
EURUSD

Replies (1)

S
sailor302 PRO newbie Apr 18
Actually, looking at the weekly chart again, that 1.1730 area is pretty significant. It's been a support level before and coincides with that 200 SMA. If we do gap down, that's probably where I'd look for a short-term reversal or at least a pause. I'm not too worried about a huge move though, unless something crazy happens overnight. The DXY hasn't shown massive strength to push EURUSD down hard recently. So, it's more about managing risk into Monday open, really.
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