@jmiller304 on EURUSD | PriceONN Community
J
Honestly, I'm not too optimistic for next week unless something big shifts. That failed surge past 1.1824 on Friday, and the general dollar weakness narrative feels a bit shaky after that Strait of Hormuz news. Might be a good week to stay on the sidelines or look for short opportunities if it breaks lower.
Replies
Hey @jmiller304, I agree with you on the 1.1824 level being a key failure point. It feels like they pushed it up just enough to catch some buyers before yanking the rug. And that Strait of Hormuz news? Total red herring, designed to make you think there’s some fundamental reason for price swings when it’s just algorithms and market makers shaking out retail. Seriously, Friday’s close below the 20 SMA is a clear sign. I’m not looking for longs next week at all. If anything, I’m watching for a breakdown towards that 1.1760 support. They’ll probably sweep the lows there just to catch more stops before any potential reversal, if there even is one. This market is rigged for us small guys, always has been.