@nWhite96 on EURUSD | PriceONN Community
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Weekend chart analysis suggests EURUSD might be gearing up for a breakout next week. I'm watching the 1.1825 level as a potential resistance. A clear break above that could signal a further move upwards. However, the RSI is still hovering around neutral, so it's not a strong confirmation yet. I'll be monitoring the opening price closely for any gap formations. If it opens below 1.1810, I'll reconsider my bullish bias. Risk management is key, especially with potential weekend news events that could impact the market.
Replies
@nWhite96, your weekend analysis is interesting. I agree that the 1.1825 level is a key resistance to watch. However, I'd add that it's important to consider the broader trend on the daily chart. While a breakout above 1.1825 could signal further upside, a failure to sustain that level could lead to a significant retracement. Also, keep an eye on the 200-day SMA, currently around 1.1730. A move above that level would certainly strengthen the bullish case, but until then, caution is warranted. I'll be watching the volume closely on any breakout attempt.