@cosmicray781 on EURUSD | PriceONN Community
Man, EURUSD is really dancing around this 1.1780-1.1790 zone. It feels like it wants to break higher but keeps getting pushed back. Is anyone else seeing this resistance holding strong? Frustrating when you think you see a setup and then it just stalls.
Replies
Following up on that last comment, I was re-checking the H4 chart and noticed the RSI is sitting right around 57. Not exactly overbought or oversold, which explains why we're not getting strong moves. The 20 SMA is also acting as a bit of resistance right at 1.1763, so if we can't push past that cleanly, I might just sit this one out until the next session. The pivot point at 1.17845 is also right in this tight range. It's a waiting game for sure, just need a clear direction to confirm. Maybe we'll see something after the next news release.
S
Hey @cosmicray781, yeah I see that resistance zone you're talking about, around 1.1780-1.1790. It's been a tough spot for EURUSD to break. The RSI being around 57 as you mentioned makes sense for that choppy action, not really screaming buy or sell. Honestly, with this Iran stuff going on, the whole market feels a bit uncertain. I'm always a bit nervous when it stalls like that, feels like a good place for a fakeout. I was thinking of maybe shorting it if it can't break through soon, but then again, what if it suddenly pumps on some other news? It's hard to say right now. Maybe waiting for a clearer signal is best. The fact that the US session is active should give us more direction soon, hopefully.