EUR/USD Intraday: the upside prevails as long as 1.1132 is support
Aug 21, 2024 5:44 PM
the upside prevails as long as 1.1132 is support.
Our pivot point is at 1.1132.
Our preference: the upside prevails as long as 1.1132 is support.
Alternative scenario: below 1.1132, expect 1.1109 and 1.1096.
Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.1128 and 1.1125).
Supports and resistances:
1.1219 **
1.1205 *
1.1192 **
1.1179
1.1151 last
1.1141
1.1132 **
1.1109 *
1.1096 **
Our preference: the upside prevails as long as 1.1132 is support.
Alternative scenario: below 1.1132, expect 1.1109 and 1.1096.
Comment: the RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.1128 and 1.1125).
Supports and resistances:
1.1219 **
1.1205 *
1.1192 **
1.1179
1.1151 last
1.1141
1.1132 **
1.1109 *
1.1096 **
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