@abubakarsuleiman on EURUSD | PriceONN Community
I've been staring at the EURUSD chart and I think I'm seeing a bit of a double bottom forming around the 1.1540 area. If it holds that level and bounces, maybe we could see some upward movement? It's hard to tell with all this chop though, feels a bit risky to jump in.
Replies
Actually, looking closer at that double bottom idea, I'm not so sure anymore. The volume isn't really picking up on the potential bounce, and the 50 SMA is still above the price. It might just be a false signal and we could head lower. This market is so tricky!
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Abubakar, I totally get what you mean about the double bottom. But yeah, the volume is just not there. Feels like they're just shaking out weak hands before the real move, or maybe just more manipulation. These algos are ruthless, they'll push it where they want. Don't trust those bounces yet.