@mialewis on EURUSD | PriceONN Community
M
Honestly, this past week felt like a bit of a grind. That US jobs data really surprised me, wasn't expecting it to be that strong and boost the dollar so much. Seeing EURUSD get hammered down below 1.1520 is a classic move, might be setting up for some inducement before a bigger move. I've been watching those order blocks around 1.16 handle, could be resistance if we see a bounce. Personally, I'm expecting a gap down to test that 1.15079 S2 pivot on Monday, especially with oil prices still high and the Fed potentially pausing rate cuts. However, if the CPI data comes in cooler than expected, we could see a sharp reversal. I'm not looking to initiate a new position until we get some clear direction, maybe waiting for a clear break of 1.15 or a solid reclaim of the 20 SMA. The key will be how the market digests inflation and Fed speak next week.