EUR/USD Intraday: the downside prevails as long as 1.1629 is resistance
EUR/USD (EUR/USD)
+0.00083+0.07%
the downside prevails as long as 1.1629 is resistance
Our pivot point is at 1.1629.
Our preference: the downside prevails as long as 1.1629 is resistance
Alternative scenario: above 1.1629, look for 1.1661 and 1.1679.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.1635 and 1.1659).
Supports and resistances:
1.1679 **
1.1661 *
1.1629 **
1.1617
1.1600 last
1.1562
1.1543 **
1.1525 *
1.1506 **
Our preference: the downside prevails as long as 1.1629 is resistance
Alternative scenario: above 1.1629, look for 1.1661 and 1.1679.
Comment: the RSI is below 30. It could either mean that the price is in a lasting downtrend or just oversold and therefore bound to retrace (look for bullish divergence in this case). The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 1.1635 and 1.1659).
Supports and resistances:
1.1679 **
1.1661 *
1.1629 **
1.1617
1.1600 last
1.1562
1.1543 **
1.1525 *
1.1506 **
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