@StarWave71 on EURUSD | PriceONN Community

Hi @StarWave71, I understand your optimism for the coming week, and I agree the close wasn't too bad. However, I'm a bit more cautious about the near-term direction. We've seen EURUSD struggle to hold above the 50-day SMA, and the RSI on the H4 chart is currently hovering around 39, which suggests bearish momentum is still present. The S1 pivot at 1.1507 is also a key level to watch. If that breaks, we could see a swift move towards 1.1500, and potentially lower if the dollar finds further strength due to those inflation concerns the market is now pricing in from the Fed.

While the news you mentioned might stay quiet, any unexpected economic data from Europe could easily shift sentiment. I'm not ready to call for higher prices just yet and am keeping an eye out for any signs of a confirmed trend reversal, rather than just a short-term bounce.

Hey @StarWave71, I hear your optimism about EURUSD heading higher next week, and the Friday close above 1.15 does offer some comfort. However, I'm personally feeling a bit more cautious too. The fact that we couldn't push through the 50 SMA, which is still sitting above the current price, makes me a bit hesitant. Plus, that S1 pivot at 1.15064 is looking like a pretty significant area to watch. If we see any weakness early Monday, especially with the dollar potentially strengthening on those inflation concerns you mentioned, I wouldn't be surprised if we test those lower support levels. I'm not saying it's definitely going down, but I think it's prudent to be ready for a move in either direction, rather than just assuming a continuation of the previous upward momentum.

Hey @StarWave71, glad you're feeling optimistic for EURUSD next week! I'm a bit nervous about that 1.15 level holding though, feels like it's barely hanging on.