@jasmin7253 on EURUSD | PriceONN Community
I'm so confused with EURUSD right now. One chart pattern I'm looking at suggests a breakout, but then the Bollinger Bands are so tight, it feels like it's just consolidating. And the news about the ECB rate hikes being scaled back... it makes my head spin trying to figure out which way it'll actually go. I just don't want to guess wrong.
Replies
Hi @jasmin7253, I feel you on the EURUSD confusion. The tight Bollinger Bands do suggest consolidation, but with this kind of session activity, breakouts are always a risk. The news on ECB rate hikes being scaled back is definitely a factor, it usually means less support for the Euro. I'm watching the pivot point around 1.1770 – if we can't hold above that, I'd be looking for a move down towards S1 at 1.17629. Stay safe with those tight bands!