@aanderson812 on EURUSD | PriceONN Community

Also, the fact that we couldn't even hold 1.18 on Friday is a bit concerning for the bulls.

Hey @aanderson812, I understand your concern about closing below the 50 SMA on Friday; that can definitely create some hesitation. However, looking at the intraday H1 and even H4 charts, the price has already pushed back above 1.1780 and is testing the immediate resistance at the P pivot point. The RSI is still holding above 50 and shows a bit of divergence from last week's lows. Given the current strength in oil, which often correlates inversely with USD, I'm cautiously optimistic about a potential bounce here. If we can reclaim the 1.18 level and hold it, I believe the bears might be caught offside. I'll be watching the 1.1778 S1 pivot closely as a potential area for longs if price pulls back slightly before continuing higher.