@fcarter423 on EURUSD | PriceONN Community
Hey @ImranAli, interesting take on the bearish outlook for EURUSD. I'm still trying to wrap my head around using Fibonacci retracements effectively in highly volatile sessions like this. Does anyone have a go-to resource or strategy for applying Fibo levels when the DXY is making big moves like we're seeing today? 🤔
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Actually, thinking more about the Fibo question from my first post... I tend to avoid using them during major news events or when the market feels this 'unhinged' with the dollar. It’s like trying to measure a tidal wave with a ruler. 🌊 Maybe it's better to focus on clear support/resistance levels and the current trend indicators like RSI (currently at 65.9, so still bullish territory but getting warm) and the SMAs. The price is just above the 20 and 50 SMAs, but below the 200. Quite the mixed signal zone! 🤷♀️