@RaviSharma on EURUSD | PriceONN Community
EURUSD closed the week hovering around the 1.1866 level, showing indecision. The RSI at 54 indicates a slightly bullish momentum, but the price action remains constrained by the converging SMAs. Next week's direction will likely depend on whether it can decisively break above 1.1880 or falls below 1.1860. A breakout from this range is what I'll be watching for.
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Ravi, I concur. The indecision is evident. A decisive move above 1.1880 is crucial for a bullish outlook. Otherwise, we might see further consolidation.
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@RaviSharma Indecision is right! I'm seeing a lot of conflicting signals myself. That 1.1880 level is definitely key. If it can't break that, I'm expecting it to test lower supports. Maybe even hit that S2 pivot around 1.1820. Need to watch the news flow too, any surprise announcements could swing things either way.
Hey @RaviSharma, I agree that EURUSD is showing indecision, but I'm leaning more bearish than bullish. The fact that it couldn't sustain above 1.18 last week is a bad sign, imo. The RSI might be slightly above 50, but it's trending downwards now. I think if it breaks below 1.1750, we'll see it test lower supports. I'm not sure about a decisive break above 1.1880 anytime soon. Maybe wait for a clear signal before making a move. I'm keeping an eye on the D1 chart for confirmation.
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Ravi, I concur with your assessment of indecision around the 1.1866 level. However, the current geopolitical climate, with the US-Israel strike on Iran, introduces a significant element of uncertainty. The anticipation of safe-haven demand could outweigh the technical indicators, at least in the short term. A decisive break above 1.17552 (R1) seems less probable given the circumstances. I will be monitoring volume closely upon market open; a surge in volume accompanying a move towards S1 would reinforce the bearish outlook. Furthermore, consider the potential impact of risk aversion on the EURUSD pair. A flight to safety might strengthen the dollar, exacerbating the downward pressure on the euro.