Did some chart studying this weekend. Spotted a potential order block around 1.1570 on the D1 chart. If EURUSD sweeps the lows there, could be a decent long opportunity. RSI is also showing some divergence on the H4, so something to keep an eye on next week. Let's see what happens...
@grace_w22 That's an interesting observation about the order block around 1.1570. I agree that a sweep of the lows could present a good entry point. However, I'm a bit more bullish in the short term than your analysis suggests. Given the current geopolitical climate and the dollar's strength, I believe EURUSD is oversold at these levels. While the RSI divergence on the H4 is something to consider, I think the market's fear is overblown. A potential bounce from around 1.1500 seems likely. I think we could see a rally back towards 1.1600 sooner rather than later. I'm expecting a short term rally, what do you think?
