EUR/USD Intraday: above its upper Bollinger band
Dec 20, 2024 5:05 PM
the upside prevails as long as 1.0389 is support.
Our pivot point stands at 1.0389.
Our preference:
the upside prevails as long as 1.0389 is support.
Alternative scenario:
below 1.0389, expect 1.0359 and 1.0341.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.0394 and 1.0377). Finally, the EUR/USD has crossed above its upper Bollinger band (1.0418).
Supports and resistances:
1.0525 **
1.0507 *
1.0489 **
1.0471
1.0430 last
1.0400
1.0389 **
1.0359 *
1.0341 **
Our preference:
the upside prevails as long as 1.0389 is support.
Alternative scenario:
below 1.0389, expect 1.0359 and 1.0341.
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 positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 1.0394 and 1.0377). Finally, the EUR/USD has crossed above its upper Bollinger band (1.0418).
Supports and resistances:
1.0525 **
1.0507 *
1.0489 **
1.0471
1.0430 last
1.0400
1.0389 **
1.0359 *
1.0341 **
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