@rjackson839 on EURUSD | PriceONN Community
Seeing EURUSD push past 1.16 again with this USD weakness is interesting. The ADP report tomorrow could be key here. Anyone else expecting this bullish momentum to continue if the jobs data is soft? Seems like the smart money is betting on a continued USD downtrend.
Replies
Hey @rjackson839, I saw that USD strength too after the jobs numbers. It definitely put a damper on the bullish momentum for EURUSD that was building up. I'm not so sure about the smart money betting on a continued USD downtrend right now, especially after such a strong payrolls report. It makes me question if we'll see a gap down on Monday. I'm definitely going to be watching the pivot points closely, especially that S1 around 1.15079. If that breaks, it could signal further downside. I'm also a bit worried about holding positions over the weekend with this kind of news reaction. It feels like a gamble. I'm planning to keep my positions small next week until we get a clearer direction.
Hey @rjackson839, I agree it's definitely interesting to see EURUSD pushing higher. That last surge felt strong, and you're right, the jobs data could really be the catalyst if it comes in soft. I'm a bit worried about this RSI though, it's screaming overbought. I'm still pretty new to this, but I'm trying to learn from these moves. Will be watching closely tomorrow.