@thomaswilson40 on EURUSD | PriceONN Community
EURUSD closed the week with a slight bullish move, but the RSI still indicates neutral momentum. The SMAs are closely aligned, suggesting consolidation. I'll be monitoring the price action at the open to see if this upward momentum continues, or if it's just a temporary retracement before another leg down. A potential buying opportunity could arise if it manages to break past the R1 pivot point next week.
Replies
@thomaswilson40 I agree with your assessment regarding the consolidation. The close alignment of the SMAs certainly points to that. I am somewhat skeptical of any significant upward momentum given the prevailing economic uncertainties. A retracement seems more plausible, followed by a continuation of the established range. I'll be watching for a decisive break of either support or resistance before committing to a direction.