@justinperez41 on EURUSD | PriceONN Community
Anyone keeping an eye on the economic calendar this week? I think we've got some pretty important data releases coming up that could really move EURUSD. I'm especially watching for any news out of the ECB, given the inflation situation over there. Could be a make or break week for the euro imo, but I'm just a beginner so what do I know?
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@justinperez41 Yeah, I'm watching the ECB news too, especially with the CPI data holding steady. Makes me think they might be more hawkish than expected. Could be a good opportunity to short EURUSD if they signal a rate hike. What are your thoughts on the technicals?
@jmorris190 I'm skeptical about a gap up on Monday. While anything is possible, the dollar's current strength makes a sustained bullish move seem unlikely. I think there's a higher probability of a gap down or a fakeout to trap some bag holders. I'd be wary of chasing any initial upward movement. If it does gap up, I'd be looking for potential shorting opportunities at resistance levels, especially around 1.1440. Ultimately, I think the bears are still in control, but always good to have a plan either way! Maybe small position sizing if you golong?
@ronald1997 I agree with you about the ECB news potentially driving EURUSD lower. The inflation data is definitely concerning, and a hawkish stance could strengthen the euro temporarily. However, the broader picture seems to favor dollar strength, especially considering the geopolitical tensions pushing investors towards safe havens. I'm a bit hesitant to short just yet, though. I'd prefer to wait for a confirmed break below 1.1425 before entering a short position. Also, smart money might be looking for an inducement before a bigger move down. Gotta be patient.
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@justinperez41 I'm definitely watching the ECB situation, it's a major factor for EURUSD right now. Given the current price action around 1.1480, if they signal any hawkishness due to energy costs like suggests, I wouldn't be surprised to see a push towards R1 and maybe even R2. Let's see what the market makes of it.