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EUR/USD Intraday: the downside prevails as long as 1.0590 is resistance

Nov 13, 2024 8:38 PM
the downside prevails as long as 1.0590 is resistance.
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1.0590 is our pivot point.
Our preference:
the downside prevails as long as 1.0590 is resistance.
Alternative scenario:
the upside breakout of 1.0590, would call for 1.0618 and 1.0634.
Comment:
the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 1.0592 and 1.0607).
Supports and resistances:
1.0634 **
1.0618 *
1.0590 **
1.0580
1.0564 last
1.0529
1.0513 **
1.0497 *
1.0480 **
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