@jlee892 on EURUSD | PriceONN Community

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J
Man, this EURUSD action is making me nervous. Seeing it stuck in this tight range after that dollar weakness Angela talked about is weird. I'm trying to stay optimistic like @michaelsmith82 and @justinallen52 mentioned, thinking it could go higher, but honestly, it just feels like it's stuck in mud. I entered a long position around 1.1580 hoping for some upward momentum, but seeing it hover here is kinda stressing me out. I've seen these sideways moves before and they can lead to a nasty breakout in the wrong direction. I was thinking of setting a tight stop just below 1.1550, but then I remember Ashley6545 was watching that zone too. I just don't want to get swept out of a good trade or worse, get stuck holding bags if it reverses hard. This sideways chop is the worst!
EURUSD

Replies (2)

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ruby8632 PRO newbie Mar 24
Hey @jlee892, I get what you mean about it feeling stuck. It's been trading in a pretty tight range, I agree. But from a technical standpoint, that 1.16 level is a key pivot point we've been watching. The dollar didn't really make any strong moves overnight despite that news about cooling inflation impacting USD/JPY, so EURUSD hasn't had a clear direction. I'm looking for a clean break above 1.1610, maybe even testing R1 at 1.1593, to feel optimistic about a push higher.
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sharpRidge9 PRO newbie Mar 30
Hey @jlee892, I hear you on the EURUSD feeling stuck, it's a weird spot to be in. Especially with all the conflicting news out there – one minute you read about German inflation potentially pushing it down, then the next it's about the ECB being ready to fight inflation, which could support it. It's tough to get a clear signal. The RSI is way down at 28 though, which usually means oversold, but the price action isn't really confirming any bounce yet. And seeing it hover around the 1.1460 level, close to those S1 and S2 pivots, makes me wonder if we're just waiting for a catalyst to break out either way. I’m personally looking at the US jobs data coming out soon, that could really shake things up for the dollar and consequently, EURUSD.
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