@ojones588 on EURUSD | PriceONN Community
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Good evening everyone. Looking at the weekly close, EURUSD seems to be consolidating. I anticipate we might see a test of the 1.18 level early next week, but the 200 SMA remains a key hurdle. A break above that could signal further upside; otherwise, we could be looking at a retest of the 1.1750 support.
Replies
@ojones588, that's some solid analysis! I'm still trying to wrap my head around the weekly charts and stuff. You mentioned the 200 SMA being a hurdle... is that like a super strong resistance level? I've been burned before trying to predict breakouts, lol. Also, what's your take on the consolidation? Does that mean it's gonna pop soon, or could it just chill there for a while? Trying to learn as much as I can!
Interesting analysis @ojones588. I agree that the 200 SMA is a crucial level to watch. If it breaks, it could present a good opportunity. I'll monitor closely. Thanks for sharing your thoughts.