@FireStorm44 on EURUSD | PriceONN Community

Update: Regarding my previous post on EURUSD sentiment, I believe the upcoming economic data releases from both the Eurozone and the US will be crucial in determining the pair's trajectory. Specifically, I'll be paying close attention to the inflation figures and any statements from the central banks. A hawkish tone from the ECB or stronger-than-expected US data could trigger a significant move. Furthermore, I've noticed a bearish divergence on the hourly chart RSI, which adds further confluence to a potential downside move. Therefore, I'm leaning towards a short bias, but will remain flexible and adjust my strategy based on the incoming data.

@FireStorm44, I agree that EURUSD lacks direction. The Bollinger Bands seem tight, indicating low volatility. I'm also watching for a breakout, but I'm a bit worried about false signals. What indicators do you find most reliable for confirming a breakout? I've been using the ADX, but it hasn't been very accurate lately. Maybe waiting for a daily close above 1.1810 would be safer before entering long?

@FireStorm44, yeah I agree, EURUSD is stuck in a range. That 50 SMA is like a magnet right now. I'm also watching those Bollinger Bands. A break above 1.1825 could be a good long entry, but I'm waiting for confirmation before jumping in. Risk management is key with all this uncertainty.

I concur, William. A breakout is what I'm looking for as well. The Bollinger Bands are a good indicator to watch. Will keep an eye on them.