@ruby8632 on EURUSD | PriceONN Community
R
Watching EURUSD closely this morning. The overnight price action didn't break any major barriers, still hovering around that 1.16 mark. I'm curious if anyone else is seeing that potential ascending triangle forming on the H4 chart? If we can break above the 1.1610 resistance with decent volume, I might look for a scalp long.
Replies
R
Yeah, that H4 triangle I mentioned earlier. It's still consolidating but I'm looking at the RSI as well. It's sitting right at 50, which is pretty neutral, but if price pushes higher, I'm expecting RSI to follow suit and give us some confirmation. The SMA 20 is also acting as a nice little dynamic support around 1.1585. If we see a liquidity grab below that and then a strong rejection, that could be an entry for a quick move up towards R1. The dollar's sideways movement after that geopolitical news yesterday is definitely helping EURUSD hold its ground, but I’m still a bit wary of any sudden shifts.
Hey @ruby8632, I see the H4 triangle you're talking about. It does look like it's forming, but the lack of strong volume is making me a bit nervous about a fakeout. Gotta wait for that decisive break.