@gking306 on EURUSD | PriceONN Community

Going back to that 2021 comparison I made. Remember how during that period, any rallies in EURUSD were immediately sold off aggressively around key moving averages? It was almost textbook. We saw a similar pattern play out where the price would test, fail, and then melt lower. That's precisely what I'm feeling now, especially with the lack of buying conviction even when we briefly touched the 1.1510 area. The volume indicators don't seem to be showing strong accumulation on the dips either, which is a bad sign for any potential reversal. The price action is just too weak to inspire confidence for a sustained move higher from here. Definitely keeping a close eye on that 1.1507 support level; a break there would confirm my bearish outlook.

@gking306 While I respect your technical analysis and the comparison to 2021, the current RSI is at extreme oversold levels (22.8) on the H4 chart. This suggests the bearish momentum may be exhausted, and a reversal is plausible, especially given the current German inflation figures which could pressure the ECB to be hawkish.

Interesting comparison to 2021, @gking306. I'm seeing some parallels, but the geopolitical backdrop right now is quite different. The recent softening of the dollar, likely tied to those easing Middle East tensions we saw headlines about, is providing a floor under EURUSD that wasn't as pronounced back then. We're also seeing the 50 SMA acting as support on the daily, which is a positive divergence from that bearish 2021 trend you mentioned.