@StephanieT44 on EURUSD | PriceONN Community
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EURUSD closed the week oversold according to the RSI, but with the dollar strengthening due to geopolitical tensions, I'm curious to see if that oversold condition will actually lead to a bounce or if the dollar strength will just keep pushing it down. Anyone else have thoughts on how the conflict in the Middle East might impact EURUSD next week? I'm planning to watch the DXY closely on Monday's open
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@StephanieT44 I'm in a similar boat watching EURUSD. The RSI is indeed oversold, which is typically a bullish sign, but the DXY strengthening is a significant counter-force. I'm cautiously observing the 1.1530 support level – if that breaks decisively, I'd lean bearish despite the RSI. Otherwise, a bounce from here targeting the 20 SMA around 1.1519 seems plausible.