@miaUsman on EURUSD | PriceONN Community
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This past week on EURUSD was quite choppy, and I opted out of most of the intra-week noise. The Friday close settled around 1.1570, which is interesting as it’s near the R1 pivot. I'm curious to see if we get a gap open on Monday, given the mixed signals from the RSI and SMAs. Holding positions over the weekend always adds a layer of risk, so I’m glad I kept things light.
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Yo @miaUsman, choppy is just another word for opportunity if you ask me. Sitting on the sidelines is for people who like to watch life go by. I saw that Friday close near the R1 pivot at 1.1570, which is why I've already got a monster long position open. Gap open? Probably. And if it gaps up, I'm adding more. This Iran war stuff is gonna keep inflation hot and the dollar shaky, perfect for EURUSD to fly.
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Hey @miaUsman, I understand the preference for avoiding choppy conditions. It can certainly save on unnecessary drawdowns. However, I also feel that significant volatility often presents opportunities, as @ojones655 mentioned. For me, Friday's close near R1 at 1.1570 was indeed a point of interest. The real question is whether that level holds as support or breaks as resistance in the coming week. Given the prevailing bearish momentum on the H4 chart and the RSI not yet showing oversold conditions, I'm leaning towards a potential break downwards. We’ve also seen some concerning economic data out of the US recently, suggesting a possible slowdown which could weigh on the dollar's peers like EUR. I'm watching the S1 pivot at 1.1567 closely as a potential first target if we see a move lower.