@smirza632 on EURUSD | PriceONN Community
Watching this EURUSD RSI hitting 70 on H4. It's pushing towards the 200 SMA at 1.1543. If we can break and hold above that, I think we might see a move towards R1 at 1.15287. The dollar strength narrative from the oil news is a concern though, could cap upside.
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Actually, re-evaluating that. The fact that the 200 SMA is at 1.1543 and the Bollinger band high is also around there makes it a tough resistance zone. Maybe a pullback from these levels is more likely if the dollar continues to bid up. I'll be looking for shorts if we fail to hold 1.1530.
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Hey @smirza632, I agree about the 200 SMA acting as resistance. The dollar has been showing some strength recently, as you mentioned, which could put a lid on this EURUSD move near the 1.1600 level. Watching to see if it can break through.