EUR/USD Intraday: the upside prevails as long as 1.0908 is support
Nov 5, 2024 8:24 PM
the upside prevails as long as 1.0908 is support.

1.0908 is our pivot point.
Our preference:
the upside prevails as long as 1.0908 is support.
Alternative scenario:
below 1.0908, expect 1.0885 and 1.0871.
Comment:
the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (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 1.0912 and 1.0893).
Supports and resistances:
1.1000 **
1.0986 *
1.0972 **
1.0959
1.0930 last
1.0917
1.0908 **
1.0885 *
1.0871 **
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