@james5013 on EURUSD | PriceONN Community

I've been reviewing the EURUSD charts this weekend, focusing on the daily timeframe. The price action seems to be consolidating around the 50-day SMA, which is currently at 1.18691. This level seems crucial for determining the short-term direction. The RSI is hovering around 54, suggesting neither overbought nor oversold conditions. I'm also observing the Bollinger Bands, which indicate a potential squeeze, implying increased volatility could be on the horizon. Furthermore, I noted that the 200 SMA is below the current price, potentially acting as a support level. I'm contemplating a long position if it breaks above 1.1875, but I'm wary of a false breakout. Risk management will be key, as always.