@NainaPatel54 on EURUSD | PriceONN Community
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What are people expecting for EURUSD next week? Any thoughts on potential gaps or major moves after this weekend?
Replies
Hey @NainaPatel54, looking at the chart from Friday, the 50 SMA is still above the price, and we closed below the 20 SMA. The RSI is hanging around 43, so not oversold but definitely not strong either. With all this geopolitical noise driving oil prices up past $90 and fears of stagflation resurfacing, I'm watching for a potential gap down on Monday. The dollar strength you're seeing mentioned in the news could add to that pressure on EURUSD. I'll be keeping an eye on that 1.1500 support level, and if that breaks, it could be a messy start to the week. Need to manage my positions carefully over the weekend.
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Hi @NainaPatel54, good question about next week. This quiet Sydney session makes it tough to predict big moves just yet. I'm keeping an eye on the DXY; if that dollar weakness we saw earlier continues, especially with any shifts in risk appetite, EURUSD could certainly push higher. We're just above the 20 SMA now, which is a start.