@williamsmith55 on EURUSD | PriceONN Community

Continuing my thought from before, the RSI is sitting at 32.3 which is definitely in oversold territory. However, the SMA lines are still above the current price, suggesting underlying bearish momentum. It's a bit of a divergence there, and I'll be watching the 1.15079 S2 pivot level closely. If that fails, I suspect we could see further downside, potentially testing the 1.1480 area which was a significant zone a few weeks back. The oil price situation is also a wildcard; if inflation fears escalate, that could pressure riskier pairs like EURUSD down further as the dollar strengthens. I'll be managing my existing long positions carefully this weekend, perhaps tightening stops if I feel there's too much overnight risk.