@khadija8664 on EURUSD | PriceONN Community
The dollar index showing some weakness today. Might be a good sign for EURUSD to push higher. Watching for a break above 1.1570 resistance.
Replies
Hey @khadija8664, I did notice the Dollar Index showing some softness earlier today. My charts show that resistance at 1.1570 you mentioned is quite strong, and we've bounced off it a couple of times now. If we can manage a decisive close above that level on the H4, then perhaps the move towards R1 at 1.15769 and potentially R2 at 1.15869 becomes more probable. However, I'm cautious given the overall risk-off sentiment stemming from geopolitical events; it could easily cap any upside.
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Hey @khadija8664, I've been watching EURUSD too and it does look a bit shaky. I'm still learning but that 1.1570 level sounds like a big deal if it keeps bouncing off it. The dollar index weakness you mentioned is interesting, maybe it'll give us a little boost. Fingers crossed it breaks through and doesn't just do another liquidity grab.