@VijayKumar on EURUSD | PriceONN Community

Thinking more about that gap risk... what if the news over the weekend is really bad for the dollar? Like that headline about energy shocks and inflation risks – if that really ramps up, the dollar could get hammered and we might see a big gap up for EURUSD. Or maybe the opposite happens and it all blows over. It's so hard to predict with these geopolitical things. I'm just hoping for a clear trend next week so I can actually make some decent trades and not just get whipsawed like last week. Need to manage my risk carefully, especially if there's volatility.

Hey @VijayKumar, yeah I'm definitely worried about that gap risk too. That headline about hiring numbers coming out is making me nervous about the dollar. If the ADP report is weak, could that really pull EURUSD up past 1.16? I saw some talk about the dollar weakening a bit already because of that Middle East news, which would help us. But then there's also that inflation risk mentioned... it's so confusing. I'm kinda hoping it just breaks higher though, my position is already in the green and I don't wanna see it flip.

Hey @VijayKumar, I see your point about the dollar potentially strengthening with all this geopolitical noise, especially that headline about the US Dollar poised for further gains. But honestly, I'm not buying it for EURUSD right now. The DXY is showing some strength, sure, but the technicals on EURUSD are screaming caution for the bears. We broke below the 20 and 200 SMAs, and that descending wedge I'm watching could be a bullish reversal pattern. If we break out of that wedge and reclaim 1.1550, I think we'll see a quick move higher, maybe even towards 1.16. The dollar strength narrative feels overblown for this pair at the moment, especially if inflation fears really start to push other central banks to hike aggressively.