@ScoutTiffany on EURUSD | PriceONN Community

Looking back at Friday's close at 1.17634, it wasn't a great finish. The SMA 50 is still above us at 1.17904, acting as overhead resistance. With that US consumer spending data potentially impacted by soaring gas prices and the continued tensions around Hormuz, I'm a little worried about a negative gap open come Monday. It feels like the risk-reward for longs isn't great right now unless we see a significant shift in sentiment. I'll be monitoring the S2 pivot at 1.17601 very closely at the open. If that breaks, we could see a quick move lower.