@yogaJames on EURUSD | PriceONN Community
Watching EURUSD here, it does feel a bit sluggish, almost like watching AUDUSD during its quietest hours. The current price is sitting right on the S1 pivot at 1.15058, which is interesting given the recent dip. If we can hold this level and see some buying pressure emerge, I believe we might see a recovery towards the R1 pivot, especially if the upcoming CPI data doesn't spook the market too much. The oil price situation is definitely a wildcard, but if it doesn't directly impact inflation expectations severely, the Fed might still stick to its planned path, which could support pairs like this.
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Also, it's worth noting that the RSI is still below 40, which suggests some room for upward movement before it gets overbought. A break above the 20 SMA at 1.15299 would be a good first sign.