@AmeliaClarke on EURUSD | PriceONN Community
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I'm anticipating a volatile week for EURUSD, especially with the news about the US and Israel. Safe havens will likely be in demand, and EURUSD might initially see some downward pressure as investors seek safety in the dollar. However, if the conflict doesn't escalate further, the pair could recover later in the week, potentially testing the R1 pivot around 1.18217. I'll be closely monitoring the news and adjusting my strategy accordingly!
Replies
@AmeliaClarke That's a well-reasoned perspective Amelia! The initial downward pressure makes sense, and your point about a potential recovery is valid. I agree that the severity of the conflict will be key. I'm also considering the possibility of a 'buy the rumor, sell the news' scenario. If the conflict doesn't escalate dramatically, we might see a quick reversal. I'll be monitoring the RSI for oversold conditions as a potential buy signal. Also, the 50 SMA is very close, so that could act as support too. Good luck!