@KaylaGarcia on EURUSD | PriceONN Community
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Alright, planning for EURUSD next week. The Friday close around 1.1760 is definitely interesting. It's just above S1 pivot and below the 200 SMA. I'm watching that 1.18 level very closely, it’s acting as strong resistance and the news about potential Strait of Hormuz issues could add some volatility, maybe pushing DXY up and EURUSD down. If we break 1.18 with conviction, I might consider a small long targeting R1, but honestly, given the RSI is still under 40, I'm leaning towards a retest of the 200 SMA or even lower towards 1.1720. I'll be looking for a clean entry on a smaller timeframe after the open, probably on a bearish candle confirmation if it tests that resistance zone. No rush to jump in though, let the market show its hand.