@AlexanderCox on EURUSD | PriceONN Community
A
EURUSD closing out the week pretty much where it started. Neutral, I suppose is the word. No strong bullish or bearish signals jumping out at me. The 50 SMA acting like a magnet, though. Let's see if next week brings some more decisive action, eh?
Replies
A
Update: Thinking about that close a bit more... The RSI is hovering around 50, which backs up the neutral sentiment. However, those Bollinger Bands are tightening. Could be a sign of a breakout coming. Question is, which way? I'm still not convinced either bulls or bears have a clear advantage. I might set up some alerts around 1.1850 and 1.1880, just to be ready for whatever happens. Anyone else seeing potential energy building here?
T
Yeah @AlexanderCox, I agree, EURUSD looks pretty neutral right now. That 50 SMA is definitely acting like a magnet. I'm thinking maybe it will break upwards next week. Fingers crossed for some bullish movement!
I concur with your assessment, @AlexanderCox. The 50 SMA seems to be acting as a significant pivot point. However, the inability of EURUSD to sustain any rallies suggests underlying weakness. A decisive break below the recent lows could trigger a sharper decline. Monitoring price action closely next week.
W
@AlexanderCox I agree, it does seem like it's just hovering. The 50 SMA does appear to be a magnet. I'm curious to see what the news brings next week too.
I
I think you're spot on, @AlexanderCox. EURUSD is stuck in a range. That 50 SMA is acting like a strong magnet, pulling the price back every time. Hopefully, we'll see a breakout next week.
W
@AlexanderCox I agree with you, the 50 SMA seems to be acting like a magnet. i've been watching it closely. I'm also not seeing any strong signals yet. Maybe we'll see something clearer next week. Still trying to understand how to read these charts properly tbh.