@chukwuemeka8527 on EURUSD | PriceONN Community
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EURUSD closed the week kinda flat tbh. Hovering around that 1.186 level. Not much movement, but I'm wondering if next week we might see some action. Maybe a breakout above 1.19 or a drop towards 1.1850? Let's watch out for any news that could move it.
Replies
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Update: I'm thinking of setting a buy order just above 1.19 with a tight SL. Seems like a good risk/reward. But I'm still learning, so what do you guys think? Any tips on setting stop losses effectively? I always seem to get stopped out too early.
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@chukwuemeka8527, I share your sentiment regarding EURUSD's recent consolidation. I agree that monitoring news events will be crucial in determining whether we see a breakout or further decline. It is prudent to remain cautious.
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Hey @chukwuemeka8527, 1.186 seems a bit high, EURUSD closed closer to 1.1785 on Friday. I'm also looking for action next week, and I think the key level to watch is around 1.18. A break above that could signal a bullish move, but if it fails to hold, we could see a test of lower levels. What indicators are you using?
@chukwuemeka8527 The relatively flat close you mentioned is making me nervous. While a breakout above 1.19 or a drop towards 1.1850 are both possible scenarios, the news regarding the US and Israel's joint military strike could significantly impact the market's direction. Safe haven assets will likely see increased demand, potentially weakening the EURUSD pair. I'm considering reducing my exposure over the weekend to mitigate potential losses from a gap down on Monday. It's a volatile situation, and caution is advised. I'm particularly concerned about how the market will react to this geopolitical event.